On Transfer Of Trust Beneficial Right

Since the publishment of the "Trust Law" of China in 2001,the trust industry has developed rapidly.Under the background of “ revitalize the stock,utilize the increment”,combined with the scale of one hundred thousand billion,how to applicat this part of capital lively plays a vital role in the development of our economy.The trust beneficial,as the important part of the trust ownership right,is the key of promote the transformation of the capital in trust industry,especially on transfer of it.The conclusion can be drawn from the analysis of the interest field of transfer on trust beneficial right,the limit and the rule of transformation,and the registration problem involved in the effect on transformation.And then,make the suggestions on rules for the transfer implementation.Besides the preface and epilogue,this article is divided into three parts :Part Ⅰ-The principle of transferability of trust beneficial right.The establishment of a trust relationship is based on the interests of the beneficiaries,and the transfer on the trust beneficial right is based on the self-interest of beneficiary.The trust beneficial right is one of the important part of the collection of trust rights,and the function of transfer on it can play the role of financing deal.But not all of the trust beneficial right can be transformed,which is limited by its own nature.For example,the trust benefical right with special identity or equity quality can not be transfer fluently as other rights in the beneficial right trading market.The main limitation comes from the mandatory provisions of the laws and regulations and the restrictions on the trust documents.Combined with the restrictive provisions on the Common Law system,it can be known that we restrict the transfer of the particular beneficial right with the prohibition of provisions,and through analysis the barrier of limitation,from the whole to the part and penetrate the limit of the right nature and the internal power of right.Part Ⅱ-The rules of transferability of trust beneficial right.At present,most of our trust industries in China are commercial trusts.When the trust right is transferred,the general transaction mode is that the parties have reached an agreement through a reasonable counter-performance.Based on the combination of theory and practice,this chapter focuses on the rules of creditor ’s rights transfer in the Contract Law,and makes a concrete comparison with the transfer rules of trust benefit right.And make a conclusion that the transfer rules of trust benefit right can refer to the creditor’ s rights transfer rules.The dynamic and static situation about changing of right happened after the trust beneficial right.The most significant effect is that the binding force to the principal,trustee and the supervisor.Another important part of the effectiveness of the transfer is that the defects of trust beneficial right,especially the responsibility of the assignor’s warranty and the adverse effects to the assignee.Part Ⅲ-The register of transfer on trust beneficial right.After confirm range of the transferable trust beneficial right and the rule of it,,the another question is that the counter effectiveness to the third party.China has already establishe a trust registration system,but the registration platform can not meet the needs of the transfer of trust beneficial right.This chapter through contrast the register antagonism and register in operation in Common Law system and the Civil Law system,making a conclusion that the trust registration is also divided into register antagonism and register in operation,subdivided into the scope,subject,content and other important problems,make reasonable recommendations to register system finally.