Trust management of property

Transfer to trust inin accordance with clause one, Article 1012 of the Civil Code of the Russian Federation is carried out on the basis of the relevant contract. In his conclusion, two parties are involved. The founder assigns trust management of the property to the manager. When concluding a contract, specific deadlines are determined. The second party undertakes to perform trust management of property in accordance with the interests of the rightholder (owner) or the person specified by him (the beneficiary).

The contract referred to above is considered to be relativelyNew for the civil legislation of the Russian Federation. With his conclusion, relations relating to the use of other people's property taking into account the interests of its owner (or the person named by the rightholder) are formalized. The reason may be the inability of the owner to use it alone or inexperience.

In some cases, trust managementproperty provides for the replacement of the owner by the manager (or other authorized person) under direct legal direction in connection with certain circumstances. They include: the establishment of custody, patronage or guardianship, an unknown absence, death. In the latter case, the executor (executor of the will) disposes of the property until the heirs enter their rights.

In contrast to the right of the Anglo-Americanthe concept of "trust property", Russian legislation directly indicates that trust management of property does not entail the transfer of ownership of the manager. Relations that are formed as a result of the conclusion of the relevant treaty are deemed not binding, but binding.

Given the legal nature, the trustthe agreement is an agreement on the provision of services. Thus, the manager performs a combination of actual, as well as legal manipulations that make up one whole. In this regard, the subject of the agreement can not be considered as a simple combination of these services.

The agreement on trust management isreal, takes effect from the moment of transfer to the property manager in use. The agreement can be free of charge or compensated and has a bilateral character. If the trust management of immovable property is formalized, the agreement enters into force after the state registration.

The founder of the general rules should actowner. They may be a citizen, subjects of certain exclusive and mandatory rights (depositors of credit institutions, for example), public education, legal entities and others. In cases provided by law, the founder of the management may not be the legal owner, but another person, for example, the guardianship and trusteeship body.

The manager can only bea professional participant in the turnover - a commercial organization, an entrepreneur (individual). This is due to the fact that the essence of trust management is business activity. In other words, in making a profit for the owner from using his property.

When implementing the contract foreseenfor legal reasons, a person who is not an individual entrepreneur (executor or guardian of a minor) or a non-profit structure (for example, a fund), other than an institution, may act as a manager.

Trust management is established for allproperty of the right holder or a certain part thereof. Money can not act as an independent object. Exceptions are those situations provided for by the applicable law in force.

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