Analyzing Characteristics and Implications of the Mortgage Default of Agricultural Land Management Rights in Recent China Based on 724 Court Decisions

The transfer of rural land contractual management rights belongs to the recessive transition of land use. The mortgage of rural land management rights is a way of rural land circulation, and has an important impact on the transformation of land use. Rural land management rights mortgage loans can enable farmers to obtain more credit funds, which is conducive to agricultural development and Rural Revitalization. However, with the development of rural land mortgage financing, the associated risk has become increasingly prominent. The most typical risk is the default risk of farmers' mortgage loans. Based on court decisions regarding rural land mortgage default during 2014-2020, this paper analyzes the characteristics of farmers' default in different periods and locations. The empirical results reveal that the time and space of rural land mortgage default cases are widely distributed in China, especially in Heilongjiang Province. In the default judgement, the loan amount of CNY 50,000 to CNY 100,000 and the loan periods of 1 year accounted for the highest proportion. When making mortgage loan policies for rural land management rights, financial institutions should give farmers the most preferential treatment regarding the amount, term and interest rate of loans. Farmers' social security should be improved, and agricultural insurance should be strengthened. Meanwhile, the credit review of small and short-term loan farmers should be heightened.