Study On The Right Of Trust Property

Trust is a plan of property transfer and management;trust property is the center of trust law.Trust has got great development in English and American legal system.Japan is the earliest country of the continental legal system that introduced the trust theory.Along with the merger,modification and fulfill of trust law,the trust industry in Japan finally went on a healthy growth way,and this boost Japanese economy greatly.Japan got in a true "Trust Time".China is also a country of continental legal system.With the economic development and social progress;the Trust Act" was set up and put in practice in 2001.But after all the trust law is an exotic thing,in order to make it more suitable to serve our economic growth, this paper has made an analysis of the right of trust property.The analysis focuses on how to protect trust property and trust parties'rights,which is hopeful to benefit people who enact or practise the Trust Act. 1.The analysis of the trust essence.On the basis of trust theory,the author thinks that the trust essence is the seperation of 'right' and 'benefit',and he gives more accurate definition of 'trust'.This paper also analyzes the development process of utilization benefit system of British land in the Middle Century,and raises the opinion that the essence of trust is the seperation of right and benefit.The two titles are owned by different parties and stipulated by trust law and so become an effective investment tool.The Chinese academician Chun Zhang thinks that the trust property still belonging to the truster after the trust property being set up is one of the creative rule of Chinese trust law.But the author of this paper thinks this opinion is deliberated.According to the 14th and 41th article of our 'Trust Act',it is not difficult to see that the thought that the right of trust property isn't transferred lacks a deep understanding of the essence of trust.It also shows that someone still stick on the traditional civil law when introducing the trust rules.Analysis of the character of right of trust property.To countries of the two legal systems,no matter how to define the ownership of trust property,one thing is similar,that is,the independence of trust property should be restricted by its objective and exists for the objective.Propose several suggestions about the designation of trust property right of our 'Trust Act'. The seperation of 'right' and 'benefit' is the legal base of the structure of trust property right.,which is an analysis of relationship of trust parties' right and liability to the trust property.Reconsidering structure of trustee's rights and obligation stipulated in" Trust Law" of our country.Our trust industry mainly is business trust.To the aspect of trustee obtaining the reward,in business trust,trustees should get the reward,while in non-business trust,it is a principle that trustee should not get the reward,and obtaining the reward is the exception.To the question of separate management and separate accounts of trust property,the trust investment company only can draw up a legal person account in the securities registration organization.Doing such is not easy to identify which is the innate fund and which is the trust fund,which is a threat to the independence of trust property,if doing this, it is easier to normally operate.Regarding transfer of benefit right,trust benefit right mainly is one kind of creditor's rights decided by the its nature.Regarding trust benefits for others,owing to having some kind of personality or the status characteristic,how should the transfer of trust benefits for others be stipulated? The creditor's rights with personality nature shall not to be transferred in accordance with our tradition civil law,however our "trust act" has not relevant stipulation regarding this.So the author thinks that transferring the trust benefits rights for others should be subject to the agreement of the truster or its successor.The analysis and suggestion about how to protect trust property right are proposed. In order to develop the unique function of trust,a set of rules are needed to ensure this kind of right structure to cause the outside efficiency,that is the trust property's independence, public show system and trustee's limited liability.Independence of trust property is the key and the safeguard of the trust property right structure.In order to make the third party informed,it needs to make the trust property public.The independence of trust property and the public show of trust property make the limited liability burdened by trustee become possible and have the basis.Public show system stipulated by our "Trust Law" have many flaws,Author gives some suggestions on how to carried on the public show of trust property and how to consummates the legislation.