| Not until the day October 1 of 2001 did our country carried the Trust law into execution. However, Trust system was the very offspring of the Equity concept of Anglo-American system of law, the existent system of law of our country was mainly affected by Civil law, then the task for applying the trust law will bring many problems and conflicts accordingly ,especially the differences presented by Trust property is very distinctly. Under the structure of Anglo-American law, they construct a "separation of ownership" structure that the trustee take the legal title for the beneficiary's benefit, meanwhile the beneficiary take the equitable title of that property. The separation of ownership structure is conflict to the theory "one property one right" of the civil law system, thus, the paper is in hope to analyze the difference between Anglo-American law system and civil law system on trust property .And by introduction the regulations , offspring circumstance and succession experiences of other countries and district ,willing help to serve as a role model for the future legislations. In addition, whereas there is nonexistence any civil trust and charitable trust tradition in our country, the Trust Law system seems taking effect mainly to satisfy the development needs for Business Trust. As before the enforcement of the Trust law, some business organization forms such as Securities Investment Fund and Special Purpose Trust had already possessed some nature of trust, thus another emphasis of this paper is to study on a more special and worthwhile trust form—Business Trust which arised from the Anglo-American law system, and take it as the most important topic of this paper in order to clarify the applying of related systems in how to affect in society. The paper consists of six chapters, summarize them as: Chapter one: A summary of trust property, in this chapter, introduced the definition and scope of trust property, the legal nature of trust property right and the trust property tracing. Willing to give a primary introduction of the definition of trust property, scope, the conflicts between Anglo-American law system and civil law system on the nature of trust property via this chapter. Chapter two: A reform theory on legal status of trust property and public policy system design, this chapter will describe the nature of independence and the nature of adscription of trust property, and then give a reform theory on the legal status of trust property, that the trust property has essential legal entity nature, moreover described the public policy system design. The aforesaid legal status is the most attractive nature of trust, however, sometimes they may cause unfair to the creditors, according that, to balance the benefit, and a public policy system will be designed. Chapter three: The development of modern trust system and the legal status shows in the structure of Business Trust, in the chapter, analyzed the commercial and development trend of trust administration. Based on that, studied the different legal structure between Business Trust and Traditional trust. In addition, emphasize the representation of such natures as independence and adscription in the structure of Business trust. In this chapter the essential legal entity was considered as the spirit of the structure of Business Trust. Chapter four: Confirmation of the status of trust property and the beneficiary protection. As the investor's benefit is the focus to be regulated by the Business trust law, as all the regulations must be established upon the connatural theory and characteristic of Business trust, thus to ensure the context consistent, from the aspect that describe the confirmation of the status of trust property, study the theories and regulations of how to protect the investors. There are three parts of this chapter, the firstly discussed the duties of the trustee arised form the separation of the ownership. Secondly, analyzed the independence of trust property and imperfection to be a legal entity,...
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