摘要：

在“公示在先，效力在先”的一般顺位规则之外，《民法典》第416条为按期登记的购置款抵押权规定了“公示在后，效力在先”的超级优先顺位规则，其初衷是对抗在先登记的浮动抵押权。但由于登记宽限期的设置，超级优先顺位规则的适用范围在逻辑上得以扩展。基于登记对抗效力的溯及性及顺位规则的体系性，按期登记的购置款抵押权还得对抗宽限期内在先公示的固定担保物权人、宽限期内在先产生的非属于正常经营活动买受人的抵押物受让人以及宽限期内在先产生的执行债权人、破产管理人。为纯化与简化顺位规则，超级优先顺位规则的法律适用不应考虑竞存权利人的善意恶意。购置款抵押权的超级优先顺位并非没有限制，按期登记的购置款抵押权不仅要劣后于民事留置权，还应劣后于建筑工程承包价款优先权、购置物上原本负担的抵押权。当多个按期登记的购置款抵押权竞存时，宜按债权比例受偿。

关键词: 购置款抵押权, 超级优先顺位, 宽限期, 竞存

Abstract: In addition to the general rule of“first in publication，first in effect”，article 416 of Civil Code stipulates the super priority rule of“second in publication，first in effect”for the acquisition mortgage right registered within the grace period.The inherent meaning of the super priority rule of acquisition mortgage right registered on time has priority firstly over the floating mortgage registered earlier.However，due to the creation of a grace period for registration，the scope of application of the super priority rule is logically extended.The holder of acquisition mortgage right registered on time has also priority over the fixed security right holder，the buyer of the collateral other than buyer in the ordinary course of business，and the enforcement creditor and trustee in bankruptcy arising earlier in the grace period.In order to simplify the rule，the legal application of the super priority rule should not take into account the good faith or bad faith of the competing right holders.The super priority of the acquisition mortgage right is not unlimited.The acquisition mortgage right registered on time should not only be inferior to the civil lien，but also inferior to the priority of construction project and the mortgage right originally borne on the purchased property.When several acquisition mortgage rights registered on time are competing，they should be compensated according to the proportion of creditor's rights.

Key words: Acquisition Mortgage Right, Super Priority, Grace Period, Competition