Research On Revocation Rights Of Trust Beneficiaries

the country's economy has been developing rapidly for more than ten years.With the growth of private wealth,the scale of domestic high net worth population is more and more huge.How to effectively preserve and increase the value of wealth in the hands,and how to efficiently use wealth to create more opportunities,such market demand is increasingly strong.Under such circumstances,trust is more and more valued by people.Trust businesses are also becoming more diverse.According to the provisions of China's current trust law,when the trustee disposes of the trust property in violation of the purpose of trust,the beneficiary may exercise the right of cancellation to cancel the disposition in violation of trust by the trustee.However,the provisions of the law on the revocation right of the beneficiary are not conducive to the exercise of the revocation right of the beneficiary.For example,when the beneficiary exercises the right of revocation,it must be done by litigation,and the assignee will only assume the responsibility of returning the trust property or compensation if he knows it clearly.All of these affect the effect of the system of revocation right to varying degrees.Therefore,from the purpose of strengthening the beneficiary's self-relief,this paper studies the revocation right system of the beneficiary in the trust.By discussing the trust beneficiary's cancellation right in the village zha problem solutions,by investigating the trust legal system foundation,draw lessons from the United Kingdom,the United States,Japan,Taiwan and so on several major countries and regions on the beneficiary revocation right system legislation experience,analysis of the institutional rules of beneficiary's cancellation right in our trust law,and put forward the current procedure of article 2,article 22,article 49 modification Suggestions,in order to better protect the trust beneficiary beneficiary,promote the vigorous development of China's trust industry.The first chapter of this paper introduces the revocation right of trust beneficiaries,mainly introduces the concept of trust beneficiaries,and expounds the current provisions of the revocation right system of trust beneficiaries in China.China's trust law clearly stipulates that the beneficiary has the right to exercise the right of cancellation in case the trustee violates the purpose of the trust,so as to safeguard its own trust interests.However,the provisions on the revocation right of the beneficiary in China are too vague.It is only a relatively principled provision to refer to the provisions on the revocation right of the trustor,and there are many problems.The country where the trust originates does not give the trustor the revocation right in the UK.The subjective requirements for the assignee to assume the responsibility are too heavy,and the scope of the responsibility of the assignee is unclear.When the trustee violates the purpose of the trust,the way for the beneficiary to exercise the revocation right is too rigid and rigid.And the effect of the right to revoke is not specified.The second chapter discusses rationally the subject of revocation right of beneficiary in trust.The comparison between China's trust law and the trust law of other countries of civil law system makes it obvious that China not only grants the beneficiary the right to cancel the trust when the trustee deals with the trust property in violation of the purpose of the trust,but also grants this right to the trustor.For this point,this paper believes that the law of our country gives the revocation right of the beneficiary to the trustor as well,so the legislative thinking of expanding the rights of the trustor goes against the fiduciary duty of the trustee and the spirit of trust.Fiduciary duty in British trust law mainly refers to a property relationship between the trustee and the beneficiary.Since the manager of trust property and the beneficiary are separated in the trust,the beneficiary is in a weak position naturally.Therefore,the law restricts the trustee and requires the trustee to abide by the fiduciary duty for the benefit of the beneficiary.At the same time,the beneficiary is given the right to cancel the relief.Under such a definition,it is not in conformity with fiduciary duty to give the trustor the right of cancellation at the same time,and will affect the efficiency of the trust.The three chapter discusses the way and effect of the revocation right of the trust beneficiary.The beneficiary's right to cancel must be exercised by litigation,which is not suitable for the development of securities trust business.In terms of the way of exercising the right of revocation,we can refer to the practice of Japanese trust law and add the way of expressing intention.This provision clarifies that the effect of the right of rescission extends to the third party dealing with the trustee.But if the third party transfers the trust property to the fourth person or other person,that is,we call the transferee of the trust property,and the transferee thus obtains and owns the trust property,can the beneficiary continue to exercise the right of cancellation to the transferee of the trust property?Chapter fourth probes into the relevant provisions of the revocation right system of the trust beneficiary involving the assignee.The first is to discuss the main elements of the responsibility of the transferee.China's trust law stipulates that the subjective understanding of the responsibility of the assignee is "knowing",excluding "should know".In this way,the assignee must be clearly aware that the trustee is against the purpose of the trust to dispose of the trust property to bear the responsibility.Such rigour often prevents beneficiaries from asserting their rights through revocation.Therefore,it is suggested to refer to the third party system in good faith subjectively;On the other hand,the provisions of the trust law of our country on the scope of liability of the assignee are very vague,only clear "should be returned or compensation".Such a provision is too principled to be convenient to operate.