| Real Estate is one of the pillar industries of the financial sector, which need a lot of money in its production and management. Meeting its funding needs relying on bank loan, not only can not meet its huge demand for funds, but also accumulate a large amount of systemic risk in financial sector.Real Estate trust has large-scale financing, modern and flexible operating mode as well as low-risk.Thus, real estate trust much favored by investors, rising and develop rapidly in our country. However,there are few studies in the trust field,the real estate trust legislation is only "A law two rules", already can not meet the needs of the current regulation of real estate trust to develop well. In addition, risk prevention and supervision mechanism are imperfect in our country, which resulted in many legal problems in the development process of China’s real estate trust. In order to regulate the actual development of China’s real estate trust better, study the risk prevention and supervision mechanism of real estate trust deeply,which can provide reliable advice to the development of China’s real estate trust system.Trust originated in England, British Eustachian system is the prototype of the trust system.In British Eustachian system, the third person entrusted to manage land for the client. Eustachian system not only solved the life issues other than the eldest son of the family after the death of the landowners, but also get rid of the system of primogeniture inheritance of land bound. Trust as a property management system has been develop rapidly in the United States 、 Britain and Japan, so far the most developed system of Trust in US. Trust is not only a property management behavior,but also a legal act. The principal or investors based on the trust for the trustee, in order to achieve the interests of the beneficiaries or specific purposes,the behavior of letting the trustee managing and disposing the trust property is called trust. Depending on the way that the real estate trust suing funds,the real estate trust are divided into three different types: namely type of real estate trust loans, equity real estate investment trusts and equity-type investment-oriented real estate investment trust.Therefore, different types of real estate exists different legal relationship.In order to regulate the development of the real estate trust, study the legal relationship in the real estate trust, which also aims to establish a real estate trust risk prevention mechanism. The analysis of the risk of estate trust in our country found that the main risks are policy risk, market risk, legal risk, operational risk, liquidityrisk and credit risk. While study the risk of real estate trust in our country, analyzing and studying the United States and Japan’s real estate trust risk prevention m and supervision mechanism in-depth, which can to provide useful experience to consummate the risk prevention and supervision mechanism of real estate trust in our country.Through the analysis of the practical problems of the real estate trust found that the supervision mechanism of the real estate trust is imperfect in our country, mainly due to four reasons:the lack of legislation to protect the interests of beneficiaries;the lack of effective supervision;information disclosure for the real estate trust and the trust property registration system are not perfect. Therefore, aiming at the flaws of the real real estate trust supervision system in our country, I propose targeted solutions,hoping contribute meager strength to the development of China’s real estate trust. |
PDF Full Text Request