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The Research Of Trust Beneficiary

Posted on:2009-11-09Degree:DoctorType:Dissertation
Country:ChinaCandidate:Y P BaiFull Text:PDF
GTID:1116360272976106Subject:Civil and Commercial Law
Abstract/Summary:PDF Full Text Request
"As a disposal methods of property, there is no other legal systems to match their flexibility with trust. The purpose of the trust set up, as a lawyer, like unlimited imagination", this is the Harvard University Professor Scott's Evaluation of Trust. Trust originated in the British law of equity, it was famed for "the greatest and most unique achievements", But for a long time, its influence is only limited in common law country, as imports, and was denied by civil law countries. With the continuous development of market economy, trust has become one of the important financial management tools. In recent years, with the growing integration of the two Law systems, more and more continental law scholars are concerned trust which has the unique characteristic of the property system. The initiate of trust in China was so late and it was legislated the "People's Republic of China Trust Law" in 2001. There is no"enough depth"in study of trust law theory. At present, trust study focused on trust property or trustee is quite shallow, and the research of beneficiary of trust falls behind in China. With the gradual deepening of trust practice and theory, it is become an important issue that protect beneficiary of trust and its rights.It has become a challenging subject for studying the theory of how to protect the beneficiary of trust and its right better, and how to coordinate with other parties in trust under the civil law system in China presently. Stated as above, I choose beneficiary of trust and its related system as the study object, combining theoretical with practical study. Although this "bold" explore would be with considerable difficulty, I hope it can give Chinese trust system on theory and practice a hand in the future.Trust is established for the beneficiary of trust (or for a specific purpose). The beneficiary of trust and their rights are well-deserved to be the core in the trust relationship; after all, to protect beneficiary of trust and to achieve the rights of the beneficiary of trust which should be the intent of the trust and the reflection of the trust function. Therefore, the beneficiary is not only an important subject of the trust relationship, but also the purpose and destination of trust behavior. Anglo-American law system gives a more meticulous study to the specific rules of beneficiary of trust, meanwhile, continental law system still appears to be more behind, which mainly focuses on explain its nature, definite law rules and explore its possible law issues, as well as analyzing the system transplant of the beneficiary of trust in civil law system Comparatively speaking, China's current Trust Law on "beneficiary" is quite simple, abstract and scattered. The Trust Law mainly emphasizes on trustee and trust property issues, and very few have special and systematic research on beneficiary of trust. In fact, to widen and deepen the research on beneficiary of trust is extremely tight because of many controversial or neglected areas exist. This paper based on China's trust law and practice, in the light of the legislation and practice from other countries or regions, attempts to combine theory, legislation and practice to study the issues about beneficiary of trust in-depth.In this paper, the contents fall into Chapter 6.Chapter 1 is "the general study of beneficiary of trust", which systematically combined and studied the basic theoretical issues of beneficiary of trust, cleared the concept of beneficiary, characteristics, classification, qualifications, then deeply studied the beneficiary of trust and put forward some ideas and proposals, as well as the law of"beneficiary principle". Beneficiary of trust is based on the behavior of the trust property and enjoy the beneficial right of the corresponding trust interests of the parties to the trust. Taking a careful analysis of"the principle beneficiary of trust", I Summed up the concept of the principle beneficiary of trust which the object of trust was determined, and gives it's a new name"the determined principle beneficiary of trust".Chapter 2 is "the beneficiary of trust and the trust system coupling review" First of all; it traced the history of the beneficiary of trust, studied the"use system"and explained how the beneficiary of trust taking shapes of"user". In addition, it analyzed the beneficial right system in the shape of the beneficiary of trust, and the usufruct of the law status and role of conversion. Secondly, it focused on the four main elements of trust: trust purpose, trust property, trust registration and beneficiary of trust, and the relationship between those four. Finally, it discussed the relationship of beneficiaries, trustee, settler and the third man of trust.Chapter 3 is "the right of beneficiary of trust" Initially; it cleared off the concepts and features of the beneficiary of trust. On the top of it, it contrasted the concepts of "the right of beneficiary of trust " and "the trust beneficial right ", on the other hand, it contrasted the trust beneficial rights under narrow and broad sense, and studied the right to interfere with the supervision of the beneficiary of trust, the right of being informed as well as beneficiary of trust of other rights.Chapter 4 is "the obligations and responsibilities beneficiary of trust". At the beginning, it discussed the controversial theory - "whether or not the beneficiary of trust has obligations and responsibilities," With the broad researching, I draw a conclusion that the beneficiary of trust has obligations and responsibilities of the trust; In the middle part of this chapter, it stated their concepts, the beneficiary of trust entitled also bear certain responsibility and obligation,"compensation and costs";Chapter 5 is "the extension thinking of the beneficiary of trust system", due to diversity of trust types and complexity of the beneficiary of trust system, beneficiary of trust allows individual characteristics in different types of the trust. I had multi-perspective research on the beneficiary of trust system by taking specific analysis on express trust, the return of trust, trust fiction, benefit from the trust, benefit trust, a single trust, a collection of trust, trust in civil and commercial trust, business trust, trust private interest, public trust, we specially and concretely analyzed the law issues of beneficiary of trust, the resulting trust and constructive trust, income trust, charitable trust, implied trust, discretionary trust and Charitable Trust.Chapter 6 is "the advice of improving beneficiary of trust system", First, I take a specific analysis on"real rights and creditor rights system", and Suggest that the"beneficiary of trust" should be look as "a cluster right "in order to resolve the problem which trust how to "localize" in the system of civil law, There are some innovations in this paper. Firstly, a clear distinction between the "the rights of beneficiary and beneficial right", and"narrow and broad beneficial right"under this basis, we made the basic point of view, that is"rights of the beneficiary of trust, the broad beneficial right'', the narrow beneficial right," and Construction of the beneficial right from the narrow sense, the beneficiary of trust informed decision-making power, the right to interfere with the supervision of the beneficiary of trust, the beneficiary of trust of the rights of the other four categories which components the system of the beneficiary of trust rights, Secondly, it draw a conclusion of the beneficiary of trust which should be the obligations and responsibilities of the trust. "Obligation of beneficiary of the trust "and "responsibility of beneficiary of the trust" which was placed to the corresponding position with "right of the beneficiary of the trust". Thirdly, the paper has been concerned about the practice of trust benefits standardization, securitization, lastly, through basic structure and function; the beneficial power can be localized as"right Clusters". In China, we propose to transfer the benefit contract into the portfolio securities, to improve the coordination mechanism between the rights of beneficiary of trust and the rights of principal, as well as the rights of the trustees.It has a great realistic significance on me during my study of beneficiary of trust system. First, this paper clarified some concepts and ideas of beneficiary of trust, and clears some misunderstanding of beneficiary of trust, so that I can help more people to know trust and trust the beneficiary of the system. As Chinese scholars have not given enough attention to study the beneficiary of trust, I would like to attract them through this paper, and contribute to the academic importance of the beneficiaries of the legal issues and focus on building a complete trust law Research system. With the practice of Trust's extensive in China, a variety of violations of the rights and interests of beneficiary of trust is constantly exposed, however, the current laws and regulations of beneficiary of the trust system lack of cleared, detailed, and systematic. It constantly speed up the legislative process for Chinese trust law to systematize, in this special period, China will amendments the "Trust Law", formulate the "trust business", and a series of legislative work will be in the making, this paper will provide a academic support for studying protection theory of beneficiary of the trust. On the whole, the current level on the study of beneficiary of trust is just poor, but it needs a complete theory of trust to support trust-law legislation. I look forward to finding some problems, figuring out some explanation, clearing off some view, and making some suggestions through this paper. On the other hand, I wish this paper can play a key role in the promotion which helps improving the study of beneficiary of trust to a higher level. I will continue to study the legal issues related to beneficiary of trust, and make my contribution to Chinese trust law studying.
Keywords/Search Tags:trust, beneficiary, the rights of beneficiary, beneficial right, trustee, trust property
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