Study On The Legal System Of Trust Beneficiary Pledge

With the development of China's trust industry,the problem of weak liquidity of trust products has become a bottleneck that hinders the development of the trust industry.The state has adopted a number of policy measures to promote the transfer of the right to benefit of the trust,in which the pledge of trust benefits can be used as an important way to transfer the right of trust.In reality,there are trust companies to carry out practical exploration of pledge of trust benefit,but our law still does not stipulate the pledge of trust benefit right in detail.How to establish the trust beneficiary certificate system through the law and how to prevent the risk of the pledge of the trust proceeds will be the risk of the pledge of the trust proceeds.The focus of the paper.This article through four chapters to discuss.The first chapter introduces the basic theory of trust benefit pledge and compares it with trust guarantee system.The basic theory includes the definition of the concept of the right to the trust,the concept and characteristics of the pledge of the trust benefit,the validity of the pledge of the trust benefit and the legal relationship of the pledge of the trust.The comparison between the pledge of trust benefit and the trust guarantee system is mainly based on the comparison of the conditions and methods of setting up the guarantee and the way of disposing of the security right.The second chapter is the analysis of the necessity and feasibility of the pledge of trust benefit.The necessity of analyzing the problem of poor liquidity of trust products and the innovation of financial practice.The feasibility of the system from the institutional policy background,the trust of the right to trust the pledge,as well as other countries and regions,the right to benefit the trust system of the three points to start.The third chapter is the problem that China faces the establishment of the pledge system of trust benefit right.Including the securitization of the beneficiary right of the trust,the lack of legitimacy of the pledge of the trust benefit,the obstacle to the exercise of the pledge,the imperfect information disclosure system of the trust product,the valuation problem of the trust benefit right and the value of the trust benefit value during the pledge period risk.The fourth chapter focuses on the construction of the pledge of the trust right of our country: through the establishment of the trust certificate system and allows it to be listed and circulated,so as to realize the securitization of the trust right of our country.To amend the "trust law" to incorporate the right of trust benefit into the pledge And to revoke the endorsement of the pledge of the trust beneficiary certificate;it is proposed to carry out special legislation on the pledge of theright of benefit of the trust and to remove the restriction on the transfer of the natural person's participation in the trust right;by improving the information disclosure system of the trust product;Credit rating system is conducive to the valuation of the right to benefit the trust;through the establishment of a risk guarantee system to protect the trust benefits pledge potential risks.