What is property preservation? Property preservation refers to the people's court taking compulsory measures to restrict the disposition of the parties' property or the subject matter of the dispute before the interested party files a lawsuit or after the parties file a lawsuit, in order to ensure that the effective judgment in the future can be enforced or to avoid property losses.
In the course of the trial of a civil case, if a party may transfer property to make it difficult to enforce the case in the future or cause damage to the parties, the other party may submit to the court to preserve its property, prohibit the transfer of its property or order it not to transfer the property again.
In practice, the court may also take the initiative to rule on property preservation measures.
Property preservation shall meet the following conditions:
1. It must be an urgent situation, and not taking property preservation will cause irreparable damage to the legitimate property rights and interests of the applicant;
2. The interested party must submit an application to the people's court where the property is located, and the court does not take the initiative to take property preservation measures in accordance with its authority;
3. The applicant must provide a guarantee or the court will reject the application.
4. The case must have the content of payment, which is a lawsuit for payment;
5. It must be that the conduct of one of the parties may make it difficult to enforce the judgment;
6. The application must be made in the course of the proceedings. When necessary, the court may also rule ex officio to take litigation property preservation measures;
7. The applicant provides a guarantee. This is not the case if the court fails to order the provision of security.

Procedures for property preservation:
1. Application. For pre-litigation property preservation, the interested party shall submit an application to the court subject to litigation before filing a lawsuit. Where the people's court accepts the application and rules on interim measures, the applicant shall terminate the ruling interim measures if the applicant does not prosecute within 15 days. Litigation property preservation may be applied for at the same time as the lawsuit or after the lawsuit is filed.
2. Warranties. The people's court may order the applicant to provide a guarantee, and if the applicant does not provide a guarantee, the application shall be rejected.
3. Ruling. Where a party applies for pre-litigation preservation, the people's court must, within 48 hours of accepting the application, make a ruling, and once the ruling is made, it will take legal effect, and the parties may not appeal against it, but may apply for a reconsideration once, and the enforcement of the ruling shall not be stopped during the reconsideration period.
4. Cancellation. If it is necessary to lift the preservation measures during the course of litigation, the court shall promptly make a ruling to lift the preservation ruling, such as if the reasons and conditions for property preservation change and there is no need for preservation; where the respondent provides corresponding security; and the applicant for pre-litigation preservation does not initiate a lawsuit within 15 days.
5. Indemnification. If the parties make an error in applying for property preservation and the respondent suffers losses due to the preservation of the property, the applicant shall bear the liability for compensation.
What documents do I need to submit to apply for property preservation?
Parties and interested parties applying for property preservation shall submit an application to the people's court and provide the following evidentiary materials:
1. The identity, service address and contact information of the person applying for preservation and the person being protected;
2. The matters of the request and the facts and reasons on which they are based;
3. The amount of preservation requested or the subject matter of the dispute;
4. Clear information on the property to be preserved or specific clues to the property to be preserved;
5. Property information or credit certificates that provide security for property preservation, or reasons for not requiring guarantees;
6. Other matters that need to be specified.
What is the time for a ruling to apply for property preservation?
1. After the people's court accepts the application for property preservation, it shall make a ruling within five days;
2. Where it is necessary to provide a guarantee, a ruling shall be made within five days after the guarantee is provided; Where a ruling is made to adopt preservation measures, enforcement shall begin within 5 days.
3. Where the situation is urgent, a ruling must be made within 48 hours; Where a ruling is made to adopt protective measures, enforcement shall begin immediately.
What is the amount of security required for an application for property preservation?
1. Where the applicant for preservation is ordered to provide a guarantee for property preservation, the amount of the guarantee shall not exceed 30% of the amount requested for preservation;
2. If the property applied for preservation is the subject of the dispute, the amount of the guarantee shall not exceed 30% of the value of the subject matter of the dispute.
What are the circumstances in which security is not required for an application for property preservation?
Where a party applies for property preservation, the people's court may not require the provision of security in the following circumstances:
1. Recovering alimony, alimony, maintenance, pension, medical expenses, labor remuneration, workers' compensation, or compensation for personal injury caused by traffic accidents;
2. Encountering domestic violence and financial difficulties in marriage and family dispute cases;
3. Public interest litigation initiated by the people's procuratorate involves damages;
4. Claiming damages for infringement due to seeing righteous courage;
5. The facts of the case are clear, the relationship between rights and obligations is clear, and the possibility of a preservation error is small;
6. The applicant for preservation is a financial institution and its branches established by commercial banks, insurance companies, etc. with the approval of the financial regulatory departments and their branches that have the ability to repay debts independently.
