Research On Allocation Of The Trust Property Right

Built on the foundation of the Balance Law of Common Law System, Trust system, is accepted by various countries as a result of its unique property management and capital appreciation's value. Our Trust Law enacted in 2001 defines the right, obligation and liability of the trustor, trustee and trust beneficiary, which are all arising from the trust property on the basis of the legislation of the Common Law and Civil Law. However, owning to the absence of history and traditions on the trust in our law system, the distribution of the trust property right was out of balance, which induced that the superiority of the trust system could not be bear out and the misunderstanding of the trust system was increasing, compared to Agency and commission system.So, under the principle of not only based on our country's property law system to find theoretical support for the Trust, but also giving the minimal change when Putting forward a sound proposal on the "Trust Law" , The article aimed to give reasonable definition of the principal,trustee and the beneficiary's status on the trust property, and then put forward the corresponding improvement proposals to the Trust Law from the view of legal act which is throughout the legal system. Chapter one: introducing the legislation of the Trust law in Common law and Civil law system and their revelation for Trust Legislation in China. The contribution of Common law legislation to the trust property right is that, they establish the basic modern philosophy on the configuration of the trust property right; The contribution of civil law is that, they created two major principles on the allocation of the trust property right under the civil law tradition, which is the establishment of Trust Contracts principle and the trust property's registration and Effectiveness of Public Credit principle. These brilliant contributions laid the foundation for the distribution of the trust property right in China Trust Law.Chapter two: First, introducing present status of the configuration of trust property rights in china; Then, further analysis the defects of this configuration and the researches on these defects in domestic academic circle; At last, the author put forward the feasibility and necessity from the view of the legal behaviors.Chapter three: This chapter is the core certificate process of this article. the chapter try to demonstrate the trust principal, trustee and the beneficiary's status in the trust and their authorities on the trust property by analysising the essence of the legal act in trust establishment process, trust effective process and trust implementation process, which three of them participated in. First, A trust is established in the form of trust contract and comes into existence when the trust contract is concluded. this trust contract is a juristic act subject to burden in nature, and the trust purpose is the"payment burden"condition for transferring the ownership of the trust property. The fulfillment of the contract results in the client transferring property ownership of the trust property. However, because of the existence of the trust purposes in contract, the client still have the right to bind the behavior of the trustee so that the beneficiary possesses the trust benefits. Second, A trust is effective from the registration of the trust property. This registration includes double registration act in nature: registration for ownership of the trust property and registration for demonstrating trust. Property registration is one of the elements of the trust taking effect, which demonstrate that the trustee obtain the ownership of the trust property from the time of registration; trust registration, in fact, is the publication means of the trust purpose. it marks the trust property as "for Trust" in order to bind the agent exercising ownership only for protecting the rights of beneficiaries; Third, implementation act of trust is the realization of the beneficiary's rights. This behavior is essentially a claim for benefit claimed by beneficiary. The nature of these three legal acts determines extent of competence of related persons in trust property.Chapter four: this chapter is the conclusion of the paper. this chapter try to find the reasonable resolutions to the unbalance allocation of the Trust property rights and make some perfect proposal. Including concretely: making reasonable definition of these concepts such as trust act, Trust Property Right, trust contract, trust registration and also on in our "Trust Law"; following the principle that the ownership of the property trusted be granted to the trustee; Establishing the client's supervisory authority in trust contract after he transferring the ownership of the trust property; Stipulating that the beneficiary's claims to trust property is an obligatory right; Finally, the author demonstrates the harmony between "Trust Law after improvement" and "property law" in our legal system.