Research On Protection System For Beneficiary

Trust is a kind of modern property management system which takes asset as core,credit as foundation and commission as method. And its protection to interests ofbeneficiary is its core content. The implementation of trust mainly works for realizingtrust purpose and trust interests of beneficiary. Particularly under the circumstances ofunspecific and inexistent beneficiary, the protection to beneficiary is more significant.The interest guarantee of beneficiary is the key of whole trust, while it is also theweakest segment in trust relation. Consequently, in the trust relationship, analyzing andstudying the interest guarantee system of trust beneficiary is of critical significance topractically protect the interests of trust beneficiary, guarantee the correct operation ofthe whole trust relation and realize the purpose of trust establishment.Through analyzing interest guarantee system of beneficiary in foreign system, thispaper combines the deficiencies in interest guarantee of trust beneficiary in our countryso as to construct the interest guarantee system of beneficiary in our country. This papercan be mainly divided into five parts:The first part defines beneficiary from aspects of definition of beneficiary,qualification of beneficiary and type of beneficiary. Through regulation of trust law ofall countries to trust beneficiary, it combines definition of scholars of all countries totrust beneficiary, abstracts the necessary elements of beneficiary’s establishment, anddefines beneficiary based on this element. The qualification of beneficiary decideswhether a person or group could become the trust party and it is the foundation ofinvestigating interest guarantee system of beneficiary. This paper classifies beneficiariesfrom aspects of purpose, number of people and adscription of trust property so as tomake relatively integral definition to trust beneficiary and lay foundation for studyingthe interest guarantee of beneficiary in the following text.The second part perfects the interest guarantee system of beneficiary in our countryfrom aspect of trust property right adscription. Our country is a country of unitaryownership system and the dual ownership system cannot be transplanted to our country.Therefore, it results in the confusion of trust ownership adscription. And the beneficialownership depended by beneficiary cannot be confirmed. By analyzing the relationshipbetween trust property right and interest of beneficiary, this part draws lessons from theforeign relatively advanced trust property right system and perfects the appropriate trustproperty right system in our country so as to guarantee the interests of beneficiary. The third part investigates problem of beneficiary interest guarantee from aspect ofclearly indicating character of beneficial right. The different characters of beneficialright make beneficiaries have various methods in pursuing pattern and relief of trustproperty. The realization of beneficiary right must take the confirmation of beneficialright’s character as the precondition. Anglo-American legal system commonly believesthat the beneficial right is the real right, equity endows beneficiary with retrieval right,and the priority right system has maximal advantages to guarantee the interests ofbeneficiary. Under the current status of unclear trust ownership adscription in ourcountry, we should refer to the adscription model of trust property ownership inAnglo-American legal system and perfect the adscription system of trust property rightin our country.The fourth part investigates interest guarantee of beneficiary from aspect ofassignee. Assignee is the manager of trust property, the nominal owner, the mostimportant node in trust relationship, and the necessary party. When investigating interestguarantee of beneficiary under trust relationship, analyzing the control and commitmentmechanism of assignee is indispensable. This part firstly investigates the necessity ofassignee guaranteeing interest of beneficiary, and then analyzes regulations ofassignee’s fiduciary duty under Anglo-American legal system. After assignee violatesthe fiduciary duty, two kinds of methods adopted by beneficiary to process right reliefare equity compensation and constructive trust. At last, it starts from the current statusof our country, draws lessons from foreign obligation regulations to assignee and themethod of guaranteeing interests of beneficiary after assignee violating trust obligation.The fifth party guarantees interests of beneficiary from aspect of trust supervision.It is undoubtedly that the most effective and powerful control mechanism in trustsupervision is to endow relevant main body with supervision right. This part refers toforeign regulations to trust supervision, which includes beneficiary, principal, interior ofassignee and supervision of trust supervisor. It perfects the trust supervision system ofour country by pluralism of trust supervision, guarantees the effective operation ofsupervision from aspects of assignee, beneficiary and trust supervisor, which includesinternal supervision of assignee, body supervision of beneficiary and externalsupervision of trust supervisor.