Abstract: The Civil Code has designed the rules for the sale of retention of title around the attribute of security, so that the retained ownership essentially plays the role of security interest. Judicial interpretation and scholars' interpretation have alleviated the systematic contradiction and semantic conflict in civil law, but it has incurred adverse effect in the bankruptcy procedure. When determining whether the right of the seller is a complete ownership or a security right which claims on property, the stands of courts are ambiguous. Therefore, when applying the relevant rules of the bankruptcy law, the security attribute of ownership retention should be emphasized. The realization of the seller's rights should follow the idea of claiming on property, and should follow the internal logic of the security interest in the claim of the creditor's main right, the damage and the right of recall by subrogation. To avoid conflict in meaning, law interpretation should hold that the seller has a kind of ownership with legal liquidation obligation.

Key words: title retention of ownership, bankrupt, recover, real rights granted by way of security, recover with substitutive guaranty