Research On The Effectiveness Of Private Trust Registration In My Country

Registration of private interest trust,a typical representative system established in Civil Law System during trust transplantation or grafting,connects trust publicity and trust property publicity.In essence,parties of the trust actively seek the protection of the trust relationship's antagonism effectiveness from registration,and the issue of effectiveness is the core and key of it.Although there are numerous Trusting Trusts at all times and in all countries,the modern trust idea roots from equitable notion of Britain.Trust registration is essentially dominated by legislation.And the British trust draws upon the complementarity and distinction between common law and equity to guarantees the antagonism effectiveness of the trust relationship,which works by means judicial process.However,due to the pursuit of "certainty" by Christian Scholasticism in the middle ages and the sanctification of private property by bourgeois revolution in continental Europe,Civil Law System needs to clarify the ownership of property.For the purpose of flexible use of the trust,it is necessary to complete or guarantee the antagonism effectiveness of the trust through the registration system while the trust transplanting.Yet it does not require compulsory registration.Trust registration reflects the transformation of trust idea from "judicial center" to "legislative center".Article 10 of Trust law of the PRC actually attaches the effect of trust registration to the effect of trust property registration,which resulting in logical confusion and rigid application.The object of trust registration includes two aspects: trust relationship and trust property.Property registration is only part of trust registration.Both real right registration and trust registration have their own independent effects,although there is overlap.The perspective of research needs transform to "person-person" and " person-property " equally.The value of trust registration is to ensure the independence of the trust property to protect the antagonism effectiveness of the trust relationship and the purpose is to use the trust flexibly so that the effectiveness of trust should affect the parties to the trust.If we pursue the convenience of the trust to the greatest extent and give full play to the effectiveness of its property design,it seems unnecessary to force the registration validation doctrine.Within the trust relationship,as the trust contract is an important carrier of the trust relationship,the contractual nature is somewhat from gust to host.The relevant provisions of Trust law of the PRC confuse the trust establishment with the establishment and effectiveness of trust contract.Whether the trust is registered or not will not affect the contract effectiveness.Trust registration validation doctrine focuses on the legal relationship within the trust which guarantees the external confrontation of the trust relationship through self-restriction,which imprisons the flexibility of a trust.While registration confrontation doctrine is applicable outside the relationship and directly emphasizes the antagonism effectiveness of the trust relationship.The antagonism effectiveness of trust registration plays a great role in serving economic interests,maintaining transaction security,stabilizing financial security and balancing the relationship between the parties inside and outside the trust.In case of conflict of rights or registration,the trustee needs to perform their obligations and claim for relief.The trustee should adhere to the principle of maximizing the interests of the beneficiary to effectively perform their duties.In particular cases,the revocation right which belong to the trustor or the beneficiary may extend directly beyond the trustee to a third party.The situation of "rigid payment" in financial trust will be broken gradually and the adverse consequences are ultimately borne by the trust property.If the trustee is at fault,the loss shall be borne by his own property.The terminate registration of the trust is not retrospective when the trust relationship ends.The registration effectiveness of private interest trust in China should be adjusted from registration validation doctrine to registration confrontation doctrine.This is also a re-understanding of antagonism effectiveness of property.