资产证券化的法律探索
摘 要
本文从法律角度对资产证券化这一新兴金融工具作了初步的介
绍，继而结合实际案例对参与资产证券化的各个法律主体及他们之间
的法律关系及法律权利义务的的作出分析并对资产证券化活动中各
个环节可能产生的法律风险进行归纳分析。资产证券化业务中需要大
量的法律工作，本文也结合资产证券化的业务流程对法律工作者在资
产证券化业务中的实务工作作出梳理和归纳。文章的最后，就资产证
券化目前在国内的发展现状的不足之处做出总结，并提出作者个人化
的改进观点。

关键词：资产证券化法律关系 真实出售制度 收益权证券化

STUDY ON LEGAL ISSUES OF ASSET
SECURITIZATION
ABSTRACT
This thesis introduces the new financial instrument, asset
securitization, from a legal viewpoint, and then explores the legal
relationship, rights and obligations between the stakeholders involved in
asset securitization, as well as possible legal risks in each step of asset
securitization process, based on real-world case studies. As asset
securitization activity calls for lot of legal efforts, this article also
summarizes and analyzes the practices of legal workers in the asset
securitization process. Finally, it concludes the deficiencies in today’s
asset securitization in China and proposes potential improvement actions
from the author’s personal perspective.
KEY WORDS: Legal relationship in asset securities
true sale system income right securitization