If you buy a car with a loan, it must be mortgaged. It may be because there is no update for the time being. As long as you pay back on time according to the loan contract for buying a car, you can cancel the mortgage after paying off the loan. Without mortgage, the ownership of the motor vehicle is yours from the legal point of view, and the beneficiary of the insurance is yourself.

Mortgage registration refers to the mortgagee's registration of the mortgage items set by him on a specific object with the relevant departments stipulated by law. Judging from the effective conditions of mortgage, mortgage registration includes formal registration and substantive registration.

The so-called formal registration means that registration only has the effect of confirming or proving the effectiveness of mortgage, but it does not have the effect of determining whether it can take effect. In other words, the effectiveness of the mortgage contract is based on the agreement of the parties.

The so-called substantive registration means that the mortgage can only take effect after registration, otherwise the mortgage can not be established. In other words, the entry into force of mortgage contract and the establishment of mortgage right are different time points. The entry into force of mortgage contract must be agreed by both parties, but the establishment of mortgage right must be registered by relevant departments.

Judging from the current legislative cases in various countries in the world, except a few chattels are mortgaged in form, other chattels and immovable properties are mortgaged in substance. What are the reasons for implementing the substantive registration system of mortgage? From the analysis of the nature of mortgage and legislative cases in various countries, there are two main reasons: first, the theory of publicity of property rights; The second is the theory of real right act.

Refer to the above contents: mortgage registration _ Baidu Encyclopedia