| Although they can both make bona fide third party become the owner of a thing to the detriment of the real owner, it is necessary to note that the public trust of estate register and bona fide acquisition are very distinct mechanisms to protect reasonable reliance in property transaction. It is very vital for bone fide acquisition to balance the benefits of real owner and bone fide third party, because to a great extent the actual possession of chattel does not always mean that the possessor of the chattel is the real owner. Compared with the actual possession of chattel, the estate register is almost endowed with absolute credibility given that it can display adequately the type and nature of real rights. That is to say, with the scientific system of registration, the estate register can be regarded as the real appearance of real property. Additionally, there are also many differences in legal effects between public trust of estate register and bona fide acquisition. The legal effect of bone fide acquisition is no more than making bone fide third party to acquire the ownership of chattel. On the other hand, the legal effect of public trust of estate register is rather complicated. It protects both positive reliance and negative reliance, now that various kinds of real rights can coexist on the same land. Furthermore, its positive reliance protection is also different from bone fide acquisition, because it includes the following effects: acquiring real right from the real owner, receiving performance from a debtor, obtaining the priority of registering in register, etc. Considering the above-mentioned differences, it is inadvisable to remove the borderline between the public trust of estate register and bone fide acquisition. In other words, it is no exaggeration to say that it will acquire rather limited effect to protect the transaction security of estate only through the pattern of bone fide acquisition. Unfortunately, The Property Law of PRC finally adopts the legal thought which treats equally the reliance protection in the transaction of chattel and estate. This article therefore suggests that 106 of the Property Law be interpreted narrowly in order to fulfill its function effectively, namely it only be applied to the transaction of chattel, and the reliance protection of real property be carried out by 16 of the Property Law. |
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