On the Nature of Law of Mortgage Right

Mortgage right is a special civil law system in China.In theory,there are three view-points on the definition of its nature: usufruct right,guarantee right and specialty right.As a means of raising funds,mortgage right has functions of thing's usufruct and guarantee,but its aim and beneficial object lay stress on the distribution of real estate's use value,and make it be possessed of distinctive usufruct function for both sides.The character of usufruct right of mortgage makes it different form the other rights,and embodies the existing value and meaning of mortgage.