| The variations of the real rights of special movable properties, such as vessel, aircraft or motor vehicle, etc., are subject to the doctrine of optional registration. It means that such real rights can be transferred between transferors and transferees either by the alteration of their registrations or by the delivery of the movable properties. Given no third party, the remaining registration of the transferor cannot challenge the validity of delivery. This, however, cannot be held true if bona fide third party is involved. Rather, the validity of delivery to transferee that has not been registered may not challenge any bona fide third party who has already registered. In circumstances in which a transferor has promised to multiple transferees separately, the validity of registration is prior to that of delivery.However, Article 10 of the judicial interpretation on the sale contract by the People's Supreme Court in 2012 holds that, the validity of delivery is prior to that of registration in the variations of the real rights of special movable properties, which will not only do harm to the explicitness of the real rights of special movable properties, but also conflict with the related provisions of the Real Right Law, and needs to be perfected by future revision. |
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