The way of asset transfer, asset transfer generally means that the sponsor of the original asset transfers the asset to another person's name, which can be sold or transferred for free, so there are many ways of asset transfer. Let me show you some information about the way of asset transfer.
Methods of asset transfer 1 What is asset transfer?
Asset transfer refers to the process of transferring the basic assets of securitization from the initiator (original owner) to the special purpose company. This is one of the most important links in the securitization transaction structure. Asset transfer can be described as actual sales and secured financing. Transferring assets through real sales is one of the main means to achieve the goal of risk isolation.
According to the degree of isolation between the securitized assets and the sponsors from bankruptcy risk, asset transfer can be defined as actual sale (off-balance-sheet securities and secured financing (on-balance-sheet)). Under the real sales situation, securitized assets and their cash flow income are not affected by the bankruptcy risk of the sponsoring institution, so most traders transfer assets in this way to ensure the transaction safety. However, traders sometimes choose secured financing for securities trading according to their own special institutional environment and specific trading conditions.
Common methods of asset transfer:
I. Transfer
Transfer means that the sponsor can directly transfer the basic assets to the special purpose company without changing or terminating the original contract, that is, the transaction does not involve the original debtor. The corresponding concept in the civil law system is assignment of creditor's rights. According to the general rules of American contract law, as long as the original obligee (promoter) and the new obligee (spy) reach an agreement on the transfer, the transfer will take effect between the two parties, and it is not necessary to obtain the debtor's consent or notify the debtor or take other further actions. However, in order to constitute an effective "assignment", that is, to have effect on the debtor, the seller must not only specify the meaning of "assignment" in the agreement, but also send a notice of assignment to the debtor. However, if the promoters continue to serve as the asset pool, they may be exempted from the notification obligation. If both parties agreed in the original contract to restrict the transfer, the transfer agreement shall not be effective for the debtor. Transfer is a simple and economical transfer method, and it is also the most commonly used transfer method in the process of securities.
Second, the debt extension.
That is, the creditor-debtor contract between the sponsor and the original debtor is terminated first, and then the special purpose company and the original debtor sign a new contract according to the terms of the original contract, thus transforming the creditor-debtor relationship between the sponsor and the original debtor into the creditor-debtor relationship between the special purpose company and the original debtor. Renewal is an effective and strict way to transfer assets, so there is no legal obstacle in any jurisdiction. However, this method also has some disadvantages that can not be ignored: because the special purpose company and the original debtor need to sign a new contract, this method is cumbersome, time-consuming and laborious. Only when the number of original debtors is small can securities adopt this method.
Third, partial participation.
In this way, there is no contractual relationship between the special purpose company and the asset debtor, and the basic contract between the sponsor and the original debtor continues to be valid. Assets do not have to be transferred from the sponsor to the special purpose company. SPV first issues asset-backed securities to investors, and then transfers the raised funds to the sponsors, and the transfer amount is equal to the portfolio value. Investors can borrow money from special purpose companies or sponsors from special purpose companies. The funds for special purpose companies to repay loans come from the income generated by asset portfolio.
Ways of asset transfer 2 There are two main ways of property transfer:
1, property transfer of ordinary debtor
It is manifested as: concealing, transferring, selling, destroying or transferring property for free after legal documents become legally effective, trading property at an obviously unreasonable price, giving up due creditor's rights, providing guarantees for others for free, etc. , resulting in the people's court can not be enforced; Without the permission of the people's court, concealing, transferring, destroying or disposing of the property that has provided a guarantee to the people's court; Consuming in violation of the people's court's ruling restricting high consumption; Having the ability to perform, refusing to perform the obligations specified in the effective legal documents in accordance with the notice of execution of the people's court.
2. Husband and wife transfer property together, as follows:
(1) Without the consent of one party, transfer the property right of the house to another person's name, purchase the house in another person's name, register the house purchased or built by both parties during cohabitation before marriage in one person's name, etc.
(2) Opening a bank account without permission and transferring the property of husband and wife to the name of an unknown bank account;
(3) Transferring the shares jointly held by husband and wife to others privately to become anonymous shareholders.
If the creditor transfers the creditor's rights without notifying the debtor, the transfer shall not be effective for the debtor.
The notice of assignment of creditor's rights shall not be revoked, except with the consent of the transferee.
Where the creditor assigns the creditor's right, the assignee obtains the subordinate rights related to the creditor's right, except that the subordinate rights belong exclusively to the creditor.
The transferee's acquisition of subordinate rights is not affected by the failure to go through the transfer registration formalities or transfer possession of subordinate rights.