The Study On Reconstruction Of Trust Rights In China

Trust, one of effective tools of property management, has been being accepted by more and more countries allover the world. Capital market of China is in the stage of rapid development, and has been absorbing big foreign capitals. Financial Freedom, Financial Asset Securitization and Prevalence of investment have been driving development of business trust, which have brought us an urgent problem how to rule the trust.As a particular system of Anglo-American law, trust is based on the Equity and the structure of property. An occlusive and rigescent theory system of the Civil Law has established in a long period of development, and hasn't left space previously for the Trust. The numerus clausus, the fundamental principle of the property law that has been widely followed by the countries of the Continental Legal System since the Roman Law was drafted, conflicts with diversities of Trust, and the division between credit and real rights make Trust Rights can't find suitable place in civil law. It means that those countries following the Civil Law are in dilemma when they try to transplant Trust, because they have to keep the law of themselves steady as well as realize the function of trust to the extent. Although abundant attempt, which the Trust Rights was trimmed, have done in many countries, the design of Trust Right in Civil Law countries isn't perfect as people's expectation, and incurs scholar's dispute. The dissertation will re-design Trust Rights basing on the Dualistic Framework of Real Rights, after analyzing the Trust in ancient laws and the defect of traditional theory about real laws, and the author yearns for putting forward his own humble opinion on emendations to the Trust Law of PRC.Chapter one mainly puts forward the opinion that Trust Rights needs reconstruct by analyzing the basis on which Trust of Anglo-American law relies heavily and the defect of Trust Law in Civil Law countries.The author studies the logical proofs of re-structure Trust Right in chapter two, by analyzing the philosophy and burgeon of Trust in ancient law, suggesting that the difference between families of law isn't a handicap of Trust-transplantation, and the Civil Law countries can optimize their Trust Law by adjusting their own legal system. The author also thinks that the Dualistic Framework of Real Rights is a portion of the theory of reconstructi Trust Right.Chapter three presents the author's idea of how to reconstruct Trust Rights. He thinks the Trust Rights is a new kind of real rights mixed by managemental rights, and makes a new explanation about the relationship between beneficiaries and fiduciaries, and opinions his view on the ownership of trust estate.Basing on the statement above, chapter four points out the flaw existing the Trust Law of PRC with corresponding advice.