Trust Property Under The Laws Of Ukraine

  • A.A. Albu
Keywords: trust management, trust property, trust management, property manager, trustee, management’s installer, beneficiary.

Abstract

A category of management, its civil legal forms, trust property and management of trust property. Trust property and management of trust property are two promising institutions of governance with a long history of the Anglo-Saxon and Continental legal families are analyzed. The legal nature of these institutions is investigated and it is proved that the essential difference lies not only in the methods, legal means necessary to achieve the goal, but as well in the way of legal registration of the relations between the subjects of trust and trust management, namely the substantive and legal characteristic of trust property, and mixed (materially-obligatory) - for trust management of property. The history of the origin and development of trust property shows that this institution is a natural result of the development of the principles of Roman law and specific unique circumstances characteristic of the legal and judicial system of England. The institution of trust property (trust) is based on a kind of medieval traditions of English law, later borrowed from the American legal system. In addition, the classic trust is based on the principle of «split ownership», which is alien to the continental legal system. That is why the introduction of trusted property in a modified form, which does not resemble classical trust at all, is a legal dualism. This leads to conflicts not only at the level of legal norm, but also at the level of doctrinal interpretations. The solution of this problem situation is offered, by representation of a category of management characteristic of its institute of trust management. Conclusions and recommendations regarding the improvement of current Ukrainian legislation are proposed on the basis of the conducted research.

Published
2021-05-16