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A Comparative Study On The Publicity System Of The Trust Of Realty

Posted on:2008-02-03Degree:MasterType:Thesis
Country:ChinaCandidate:Z H SunFull Text:PDF
GTID:2166360218461147Subject:Civil and Commercial Law
Abstract/Summary:PDF Full Text Request
This dissertation attempts to make a comparative study on the publicity system of the trust of realty among main nations and district in civil and common law system, including Japan, Taiwan, England and America.Part One defines the conception of the publicity system of trust. The qualified publicity system of trust must possess two main characteristics. Firstly, there must be some steady exterior modality of trust, which can disclose part or whole elements of trust relationship. Meanwhile, the disclosure of trust is reliable as it is endowed by law with credibility. Secondly, in a general way, the parties of the trust can not defend against the claims of the third party with the establishment, modification or termination of the trust, unless they have been published. Through the aforementioned characteristics or requirements, Part Two probes into the publicity system of trust of realty in Japan, Taiwan, England and America. The production of research is that all the foregoing nations and district have established the publicity system of trust of realty, with the registration system of trust of realty both in Japan and Taiwan, the incomplete registration system of trust of land in England, and earmark system of trust in America.Part Three and Part Four make explanation of the similarities and differences of three kinds of publicity systems of trust of realty. The trust relationship can bind not only the parties of trust but also the third parties in the transaction, which make it necessary to protect the transaction security. Therefore, publicity system of trust of realty was established in all of foregoing nations and district. However, as concrete institutions in real right law or property law are different, especially in aspect of realty registration systems, corresponding publicity system was adopted in different nations and district.Part Five estimates aforementioned publicity systems of trust of realty with the function criterion of reducing transaction cost. Reducing transaction cost is main approach to protect transaction security. From the aspect of economical analysis we find that the uniform registration system of trust of realty in Japan and Taiwan is more efficient than publicity systems in England and America. However, it must be pointed out that England and America can solve the puzzledom incurred by transaction cost. The reason is that Equity has been insuring the performance of fiduciary's duty of loyalty, which effectively prevents fiduciary's opportunism conduct.The existing publicity of trust of realty in China is mainly about theoretical study and local practice. From the aspect of the institutional basis of corresponding publicity system and the function of reducing transaction cost, the dissertation suggests that China should establish publicity systems of trust of realty adhering to uniform realty registration system in future. Of course, the practice of registration of trust of realty needs improving on.
Keywords/Search Tags:Publicity System of Trust, Registration of Trust, Realty Registration System, Transaction Security, Transaction Cost
PDF Full Text Request
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