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A Study Of Legal Obstacles To Real Estate Family Trusts

Posted on:2021-10-09Degree:MasterType:Thesis
Country:ChinaCandidate:J LiuFull Text:PDF
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Since the reform and opening up,China's economy has maintained rapid growth for a long time,and its total economic volume has ranked second in the world.In the process of continuous economic development,the total amount of social wealth has accumulated rapidly,and the growth rate of wealth is also rising,A large number of high-net-worth and ultra-high-net-worth people have emerged in China,From the overall scale,the total number of high-net-worth people in China has also ranked second in the world;From the perspective of population structure,private entrepreneurs are the absolute backbone of China's high-net-worth customer base;From the perspective of age distribution,the proportion of high-net-worth individuals over the age of 40 reaches over 84%,and the proportion of high-net-worth individuals over the age of 50 approaches 50%.As they get older,they pay more and more attention to wealth protection and inheritance.Common wealth transfer instruments in the market are insurance,family trusts,wills and funds.Compared with other products,family trusts have more advantages in risk isolation,tax planning and personalized services,and the demand for such products and services is also increasing.At present,among all the property of high net worth individuals in China,real estate occupies a decisive position.Establishing a real estate family trust through real estate can effectively achieve a number of functions such as the appreciation and appreciation of real estate,wealth transfer,and tax planning.In China's "Trust Law",real estate is not forbidden as trust property,but because it involves the two fields of trust law and property law,in the current special legal environment,the establishment of a family trust with real estate requires many difficulties in practice.Questions such as how the real estate is delivered to the trustee as trust property,the registration of the trust property,and the taxation of real estate in the process of ownership transfer.This article is mainly composed of five parts.It is planned to analyze the three aspects of the ownership of the trust property,the public disclosure system of the trust registration,and the double taxation of the trust by comparing the real estate trust systems in the United States,the United Kingdom and the civil law countries.Inorder to bring more new development ideas into the practice of domestic real estate family trust.The introduction mainly proposes the background of the topic selection,the research significance and value of the subject of the thesis,the existing literature on trust property ownership,the trust registration system,the real estate family trust,and trust taxation,as well as the main research ideas and structure of the paper.The first chapter focuses on the current status of the practice of real estate family trusts,and provides a detailed description of the legal definition of real estate family trusts,the properties of trust properties,and the ability to solve relevant practical problems.In addition,the real estate family trusts established by Beijing Trust in2014.The second chapter is the in-depth study of the legal dilemma encountered in the establishment of a family trust in China.First,it analyzes the ownership of the trust property,especially the ownership of real estate,in the Domestic Trust Law,and analyzes the transfer of real estate property based on China's special characteristics of real estate.Then analyze the similarities and differences by comparing the common law and civil law system and other famous scholars' systems and views on the ownership of trust property.Finally,based on the above viewpoints,reconcile the differences between the common law system and the civil law system regarding the ownership system,and propose solutions to the ownership of trust property in the existing system.The third chapter is aimed at the issue of trust publicity in the development stage of domestic real estate family trusts.It analyzes that the lack of the real estate trust registration system in China is an important factor for the difficulty of sustainable development of trusts,and puts forward some targeted suggestions.It is divided into three parts,the first part is to analyze the contents of trust publicity based on the resolution of trust ownership,including trust registration,trust property registration,and trust share registration.The second part discusses China's current trust registration effectism,and compares the relevant characteristics of civil law with registration effectism and registration antagonism and puts forward related suggestions.The third part analyzes the practical attempts of trust registration in China,comparing the advantages and disadvantages of the unified trust registration agency and the existingownership registration department.Combined with the characteristics of the real estate ownership registration system,it is proposed that the trust registration agency should solve the problem that the trust registration agency of the country should assume the function of trust publicity.The fourth chapter focuses on the related taxes and fees arising from the transfer of real property during the establishment of a family trust.By comparing domestic and foreign trust tax systems,Combining the current mainstream theory of trust ducts and the theory of trust entities to analyze the taxation of trust in the establishment of real estate trust,And put forward some targeted suggestions for improvement.
Keywords/Search Tags:Real estate, Family trust, Ownership of trust property, Trust registration, Trust tax
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