Study On Law Of Real Estate Trust

Real estate trust is not a new term, relevant legal discussion can be found in manywritings about trust law. However, many of these writings are from the standpoint of civiltrust with little systematic study on real estate trust in business, which is not in accordancewith the developing trend of trust. With the development of society, trust has assumedvarious functions and been more and more applied in business. Real estate trust is a goodexample of such a trend. It is needless to say that commercial trust of real estate is a newtype of original civil trust of real estate and represents the development of real estate trust.In China, its application has many forms, and many problems exist in practice because ofabsence of systematic support from legal theory and deficiency in legal system. Thisdissertation refers to the commercial trust of real estate, on which the author wishes tostudy theoretically and practically to improve Chinese business of real estate trust. It has the foreword and five chapters. The foreword describes the importance and significance of legal study on real estatetrust. The first chapter is about the concept and historical examination of real estate trust. Itanalyzes the concept, legal characteristics and varieties of real estate trust, examining itshistory in the meantime. It holds that real estate includes trusts of real estate assets andreal estate investment. The former is the original type of real estate trust, from which thelatter form is evolved during the wide application of trust, while trust of real estate assetitself has new variations. The second chapter makes legal analysis on real estate trust. It firstly analyzes legalrelations, including legal subject and its content; then it discusses the choice of value,suggesting that freedom and efficiency are two inherent values and the practice and legalinstitutions in China has deviated from these two values; it finally studies the relationshipbetween real estate and securitization of real estate. It is argued that they are partly relatedwith each other, some trust of real estate asset can be recognized as the securitization ofreal estate. But the securitization has not been adopted in Chinese law, resulting ininefficiency of some projects. The third chapter refers to legislations on real estate trust in foreign countries andcompares them. Other countries have gained abundant experience and institutionalachievement regarding real estate trust. It particularly introduces typical legal stipulationsin the United States, Japan and Taiwan region and makes comparison, using them aslegislative reference for china. The fourth chapter is case study on Chinese real estate trust. It summarizes theexisting forms and problems of real estate trust in China, much being given to systematicexposure of problems occurring in aggregate capital trust, which is currently in hot sale. The fifth chapter is the legislative constitution about Chinese real estate trust. Byanalyzing relevant legal environment in China, it set forth the suggestion of codification,whose content is also designed at the same time. On the basis of codification, it points outthe role that the improvement of other laws can play in regulating real estate trust.