Legal basis: Civil Code of People's Republic of China (PRC).
Article 393 In any of the following circumstances, the security interest shall be extinguished:
(1) The principal creditor's rights are extinguished.
(2) the realization of security interests;
(3) The creditor waives the security interest.
(4) Other circumstances in which the security interest is extinguished as stipulated by law.
Article 402 Where the mortgage registration of real estate is mortgaged with the property specified in Items 1 to 3 of the first paragraph of Article 395 of this Law or the building under construction specified in Item 5, the mortgage registration shall be handled. The mortgage is established at the time of registration.