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The Research On The Trustee's Obligations After The Termination Of The Trust

Posted on:2012-11-16Degree:MasterType:Thesis
Country:ChinaCandidate:X M ZhangFull Text:PDF
GTID:2216330335990252Subject:Law
Abstract/Summary:PDF Full Text Request
The trustee's obligations are that the trustee has to fulfill based to the Trust Law of China, and the obligations are agreed upon jointly between the trustee and clients according to the principle of the autonomy of private law, which consist of the legal obligations and contractual obligations. The trustee's obligations after the termination of the trust mean that the trustee has to fulfill the obligations after the termination of the trust, which also include the legal obligations and contractual obligations. That is, the parties engage the obligations after the termination of the trust in the trust document or the obligations are regulated by legislation.The trust is a special contract, whose legal effects caused by its termination are different with the termination of the general contracts. When the trust ends, it is in the existence of the legal fiction period from transfering the trust property to the trust property fully belong to the person which has the rights to obtain. During the legal duration, the trustee shall continue to fulfill his obligations. For the trustee's obligations after the termination of the trust, the Trust Law of China has made the relevant provisions, one is that determine the ownership of the trust property, the other is that make the liquidation of the remaining trust property and obtain the affirmation of the person who has the right to obtain. However, because of the particularity of the trust system, the independence of the trust property and the separation between the ownership and the interests of the trust property, the Trust Law of China is still lack of the related provisions for the trustee's obligations after the termination of the trust. For example, it is lack of the provisions for the trustee's obligations during the existence of the legal fiction period, the obligation of dealing with the related claims and debts, the obligation of delivering and registering the trust property.On referencing the relevant provisions of the Trust Law of Japan, put forward some suggestions for stipulating the trustee's obligations after the termination of the trust, such as the obligation of collecting the related claims and repaying the related debts, the obligation of delivering the trust property, the obligation of registering the ownership of the trust property and the obligation of keeping the clients'privacy. Through specifying the trustee's obligations, the trustee fulfills his obligations better and brings the greater interest for the beneficiaries on the spirit of being entrusted by the people, loyal to the people and generating finance for the people.
Keywords/Search Tags:The termination of the trust, The trustee's obligations, The person who has the rights to obtain, The trust property, The liquidation report
PDF Full Text Request
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