What is the purpose of vehicle mortgage registration?
1 Answers
Vehicle mortgage registration serves to ensure transaction security. The establishment of a mortgage right is fundamentally aimed at safeguarding the security of the principal claim, thereby protecting the interests of the mortgagee. Below are relevant explanations: 1. Definition of mortgage registration: Vehicle mortgage registration is a statutory act performed by both mortgaging parties in accordance with legal procedures at relevant registration authorities to validate the mortgage. 2. Statutory formal act: According to current Chinese laws, mortgage registration is a statutory formal act. A mortgage right constitutes a type of encumbrance on the mortgaged property, and completing mortgage registration procedures is an essential requirement for the establishment of mortgage legal relationships.