Study On Legal Application Of International Fiduciary Relationship

Derived from Anglo-American Equity, trust is a fiduciary relationship with respect to specific property. The institution has been adopted by the laws of many civil law countries as a mature property management from twentieth century . Because of the difference between the two legal systems, conflicts on trusts became more complicated than in any other fields. Hague Convention on the Law Applicable to Trusts and on Recognition is the first international trial to reconcile the practice between Civil Law and Anglo-American Law. Many civil law countries refer to the international recognition of off-shore trusts. Combining with the theory of international private law, this paper illustrates the reasons why the conflict of laws exist in the area of the law of trusts and the main conflicts of laws thereof. This paper sets more of the conditions of the principle of autonomy of will, puts emphases on discussing validity and application of the closest and most real connection, and presents the background, context and the form of "Hague Trust" which governs the procedural law of off-shore trusts. According to the discussion of this paper, the writer puts forward the opinion of modifying and supplementing China's first Trust Law. I hope this paper could have a directing function to the international fiduciary judicial practice in our country.