Research On Declaration Of Trust

Concerning declaration of trust, there is no specific definition. Generally speaking, declaration of trust is a method of creating a trust. It is a declaration by an owner of property that he or she holds that property as trustee for one or more persons. Since trust law is the creation of law of equity, declaration of trust has developed very well in countries such as England or the United States of America. By contrast, only Japan and Taiwan admit declaration of trust among continental law system countries. Japanese trust law was revised in2006, and it is from the revision that the declaration of trust was begun to be admitted. The trust law of Taiwan just permits legal person to create a declaration of trust in charitable trust. As we can see, there are numerous restrictions of creating a declaration of trust in Japan and Taiwan.As economy of China will make further progress, permission of the declaration of trust is the prevailing trend. This paper studies the declaration of trust in Anglo-American law system by means of historical investigation, empirical analysis and comparative study, and researches relative content about declaration of trust in Japanese trust law and Taiwan’s trust law. On the basis of the former research, the paper puts forward some suggestions to acknowledge the declaration of trust in our country, hoping to promote the development of declaration of trust in China.This paper is divided into four parts. The first part introduces the history origin and development course of the declaration of trust from the perspective of historical research. By means of legal analysis and case study about the trust law in Britain and the United States, the second part discusses the concept and characteristics of declaration of trust, then the part studies the establishment, modification and termination of the declaration of trust in common law from the perspective of empirical analysis. On this basis, the second part analyzes what definition and limitation the trust law of Japan and Taiwan puts on the declaration of trust after transplantation. The third part analyzes if it is necessary to permit the creation of the declaration of trust in our country, as well as in our existing legal system, if it is feasible to allow the establishment of the declaration of trust. On the basis of the third part, the fourth part proposes some suggestions on the specific design of China’s trust law system about the transplantation of declaration of trust from the creation of declaration of trust to the protection for the settlor’s creditors and the beneficiaries in the actual operation of declaration of trust.