Improvement Of The Real Estate Trust Legal System In China

Trust industry as one of the four pillars of China’s financial sector, the rapiddevelopment in recent years, Real Estate Trust is one of the key business trust, thetrust of the industry as "high-quality products." However, trust in our system areexotic, the legal system is not perfect, few studies related theories, lagged behind thedevelopment of substantive areas. Yinchuan City,"Yanjing Hafu" project fraudoccurred in2011,2012The famous "unfinished" real estate investment trust-trust inthe financial disposition of cases in Qingdao Hyatt Center Project collective trustassets pledged cash and real estate trusts, etc. events since the crisis erupted in2012,gave us a wake-up call, Therefore, the guidelines for the effective conduct of the realestate trust business, improve the legal system is the inevitable choice.This article is based on a legal basis to explore the relationship between thevarious modes of real estate trust, combined with practice typical example, to analyzethe shortcomings of the legal system of China’s real estate trust and make soundrecommendations. The article consists of three parts, namely,"Overview of the legalsystem of China’s real estate trust,""China’s real estate trust problems in the legalsystem" and "perfect proposal" China’s real estate trust the legal system.The first part introduces the connotation of China’s real estate trusts and legalsources, including the nature of the real estate trust, classification and be bound by thelaws and regulations and what normative documents. You can take a preliminaryunderstanding of the legal system of China’s real estate trust problem. Then focus onanalysis of the legal relationship, first established macroscopic description of the legalelements of the legal relationship of trust, and then separately with examples oflending model, equity investment patterns, the qualification model of equityinvestments in real estate trust the legal relationship of the parties, and the rights andobligations of the guest system of comb, in order to provide clues for later miningspecific issues in the legal system of China’s real estate trust exists.The second part of the analysis of the first part, the author draws immediate risk of lending model that project selection real estate trust, mortgage assets, the industry"rigid honor the" hidden rules; risk equity real estate investment trust model thatcompliance; equity investment patterns the risk that the assets of the real estate trustrights corresponding asset base itself. These risks arising legal system is rooted in thelack of specialized industry norms Trust "Trust Business Act";"Trust Law" vestedownership of the trust property is not clear, the trust property "certainty" requirementlack of clear criteria, the principal "the right to revoke the provisions of "unreasonable,inadequate and imperfect trust registration system; trust risk control mechanism is notperfect; supervision, the CBRC issued a series of measures, there is some suspicionover the provisions of the notice of intervention, the regulatory strategies heavy"blocking" and light "comb" and other issues.The third section presents recommendations for improvement of the above issues,property trust the legal system, for the "Trust Law" insufficient to propose specificmeasures for improvement, develop "Trust Business Law" and perfect the relevantlegal system; risk control mechanism areas, improve the information disclosuresystem, the establishment of secondary market real estate investment trust and therelevant legal system, improve risk control mechanisms Trust; aspects of regulatorymechanisms need to change their ideas, give full play to market adjustment function,set up a special regulatory body that is "Trust regulatory Committee "to achieveprofessional management.We can say that China’s real estate trust many problems that exist in the legalsystem hinders the trust industry and the entire financial sector, and orderlydevelopment. Our legislative bodies, regulators, trust companies, real estatecompanies, researchers, and a lot of theories investor trust scheme shall conform tothe tide of financial sector reform, team work, improve our real estate trust the legalsystem to achieve the financial industry’s most "real" prosperity and development.