On The Nature Of The Trust Beneficial Interest

Trust is construed as a means of transferring and operating property, originating in England. It was gradually brought in by the countries belong to the civil law system during the 20th century. However, it has not been actually embodied into the legal system of real rights and creditor's rights in property law. The controversy on the nature of beneficial right in trust gives expression to the problem that the civil law system face when integrating the trust law. It is very necessary for us to have detailed research on the nature of beneficial right in trust and make it clear, because it has so much to do with the establishment of the trust system and is related to the protection of the trust beneficiary.This article contains four parts, except preface and conclusion. The first part mainly introduces the origin of trust and its history in China. Then finding out the significance to have research on the nature of beneficial right from the analyses of trust's development status in our country.The second part discusses the different theories about the nature of beneficial right in trust, analyses the strengths and weaknesses of each theory, inspects the reasons why trust has not been actually embodied into the legal system of the civil law family.The third part makes detail analyses on the necessity of eliminating the disputes and clearing the nature of beneficial right in trust, from different angles of legal theory, legislation and judicial practice.The last part makes a demonstration on the theoretical foundation of clearing the nature of beneficial right. Firstly, having study on the developing history of the theory of double ownership in common law system, summarize the revelation that we must have respect to the trust intent when clearing the nature of beneficial right. Secondly, inspecting the formation process of the dual rights system and discussing the theoretical framework of the dual rights structure from the aspect of system. Pointing out that although trust law is alien to the conception of unitary ownership in civil law system, it does not actually violate the basic principles of real right. There is no logical conflict caused by trust law into the civil law system. Then coming to the conclusion that beneficial right in trust can be accept as a new member of real rights family, protection of real right play an active role in protecting the trust beneficiary and the development in our country.