scholarly journals BENEFICIAL OWNERSHIP AND TRUST: EXPERIENCE OF CIVIL LAW COUNTRIES

2017 ◽  
pp. 0-0
Author(s):  
Анна Мазаева ◽  
Anna Mazaeva
Keyword(s):  
Asset Management ◽  
Civil Law ◽  
Hague Convention ◽  
Trust Model ◽  
European Countries ◽  
Constant Change ◽  
Beneficial Ownership ◽  
The Law ◽  
The Hague Convention ◽  
Law Of Succession

The increasing complexity and internationalization of economic processes, escalation of risks of solo asset management, constant change of market conditions, emergence of new means of earning income from property demand from the owner of any valuable assets to find a professional who can effectively manage an estate. Lack of clearness in legislative regulation in the Russian Federation stimulates the title holders to use international law institutes such as trust, rather than national asset management. The author underlines unrecoverable problems occurring during attempts of implementation of trusts into the legislation of European countries, gives examples of alternative institutes of an asset management. The article describes problems occurring because of trust implementation into civil law. The author makes the comparative analysis of the “contract” model and the “trust” model of asset management and gives several examples of successful application of trust-like institutions in civil law countries, such as: Institution of precede and subsequent successors (Vorerbe and Nacherbe); Dauertestamentsvollstrecker and Treuhand in the law of succession and corporate law of Germany; la fiducie in civil law of France. The article contains a brief overview of the Hague Convention on the Law Applicable to Trusts and on their Recognition 1985 as an example of harmonization of common understanding of trust among European countries and the resolution of the problem of legal qualification of trust relations by civil courts.

scholarly journals RIGHTS OF INHERITANCE OF HEIRS OF BENEFICIARIES OF OFFSHORE COMPANIES AND TRUSTS

2017 ◽  
pp. 85-91
Author(s):  
Владимир Канашевский ◽  
Vladimir Kanashevskiy
Keyword(s):  
Civil Law ◽  
Hague Convention ◽  
Case Law ◽  
Current Interest ◽  
Foreign Countries ◽  
The Hague ◽  
The Law ◽  
The Hague Convention ◽  
Legal Consequences

The author researches the issues of rights of inheritance of heirs of beneficiaries of offshore companies and trusts in respect of property (assets) of the latter. These issues are of current interest in the light of using the services of nominee’s shareholders and directors of offshore companies which is widespread among Russian businessmen. Particular attention is paid to recognition of legal consequences of offshore testamentary trusts in civil law countries. These issues are also actual ones in the light of Russian laws on foreign controlled companies (CFC), which do not qualify irrevocable and discretionary trusts as CFC, and consequently such trusts are quite popular in Russia. One of the disadvantages of using the services of nominal shareholders by the beneficiary of offshore company is the unresolved rights of inheritance’s issues in case of beneficiary’s death. Consequently the Russian individuals who use the services of nominee shareholders in the offshore companies should protect their inheritance rights in case of unforeseen circumstances (e.g. death). Similarly in case of death of the trust beneficiary the fate of property transferred to the trust depends on the content of trust agreement, as well as of the trustee’s authorities. Therefore the fate of a trust and its assets in the event of beneficiary’s death should be determined in a trust agreement. The potential beneficiaries (in particular, the desirable heirs) should be familiar with the relevant trust documents. The author illustrates his reasoning by reference to legislation and case law of Russia and foreign countries. The author inter alia analyzes the issues of recognition of trusts created abroad, including under the Hague Convention on the Law Applicable to Trusts and on their Recognition of 1985.

10. International Relocation and Child Abduction

2018 ◽  
Author(s):  
Ruth Gaffney-Rhys
Keyword(s):  
Hague Convention ◽  
International Relocation ◽  
Child Abduction ◽  
International Child ◽  
Questions And Answers ◽  
Essay Question ◽  
The Hague ◽  
The Law ◽  
The Hague Convention ◽  
The Eu

The Concentrate Questions and Answers series offers the best preparation for tackling exam and assignment questions. Each book includes key debates, typical questions, diagram answer plans, suggested answers, author commentary, and tips to gain extra marks. This chapter focuses on international relocation and child abduction. The first question is an essay question that considers the law relating to international relocation, ie how the English courts have dealt with applications to relocate out of the jurisdiction (eg Payne v Payne). The second is a problem question that requires the application of the Hague Convention on the Civil Aspects on International Child Abduction 1980 and the EU Regulations (BIIR), but also considers the law that applies if a child is taken to England and Wales from a country that has not ratified the Hague Convention.

scholarly journals Transfer of Ownership in fiducia and Trust – Preliminary Considerations on the Possibilty of Application of the Hague Convention on the Law Applicable to Trusts and on their Recognition

2018 ◽  
Vol 55 (3) ◽  
pp. 579-605
Author(s):  
Tomislav Karlović
Keyword(s):  
Legal System ◽  
Hague Convention ◽  
Roman Law ◽  
Real Property ◽  
Legal Rules ◽  
Significant Difference ◽  
The Hague ◽  
The Law ◽  
Definition Of ◽  
The Hague Convention

Considering the main characteristics of fiducia in Roman law, as well as its functions and place within the real property law and the law of obligations, two features that are also prominent in the definition of anglosaxon trust stand out. These are the fiduciary nature of the relationship between the interested parties, as fides (trust) formed the initial basis of both institutes in the period before they were legally recognized, and the transfer of ownership made for specific purpose, different from the regular enjoyment of the object by the owner. However, there is a significant difference between the two (fiducia and trust) becuase of the duality between common law and equity in English legal system. While the mutual interests of the parties to fiducia in Roman law were protected only by personal actions (actiones in personam), parties’ proprietary interests in English trust were (and still are) recognized with the parallel existence of legal and equitable title. In contemporary Croatian law of real property the closest thing to the division of titles exists with regard to the conditionally transferred ownership as regulated in Art. 34 of Ownership and Other Proprietary Rights Act, entaling the division on prior and posterior ownership, both of which can be entered into Land registry and other registries. In the article it is analysed how this division and the following registration of both titles could allow for the effects to be given to trusts, in case it would be pondered on the benefits of accession of Croatia to the Hague Convention on the Law Applicable to Trusts and on their Recognition. Accordingly, after the exposition of Croatian law, it is given a short overview of English trust with emphasis on trusts of land and, subsequently, of the rules of the Hague Convention on the Law Applicable to Trusts and on their Recognition. In the conclusion it is argued that perceived incompatibility of trust with civilian legal system can be overcome in Croatia with the help of extant legal rules regarding conditionally transferred ownership. Also, this incompatibility has already been refuted in several European continental countries from which examples lessons should be studied and learned, what would be the next step in the deliberations on the accession to the Hague Convention on the Law Applicable to Trusts and on their Recognition.

IV Trust Arbitration as a Matter of International Law, 19 Arbitrating Trust Disputes: Effect of the Hague Convention on the Law Applicable to Trusts and on Their Recognition

2016 ◽  
Author(s):  
von Segesser Georg
Keyword(s):  
Hague Convention ◽  
Conflict Of Laws ◽  
Binding Effect ◽  
Applicable Law ◽  
The Hague ◽  
The Law ◽  
Substantive Law ◽  
The Hague Convention ◽  
International Conventions ◽  
Selection Of

This chapter examines the effect of the Hague Convention on the Law Applicable to Trusts and on their Recognition (Hague Trust Convention) on the law applicable to the arbitration of trust disputes. It also considers the extent to which arbitrators can apply the conflict of laws rules of the convention in cases where the parties have not agreed that these rules should govern the issues in dispute. The chapter is organized as follows. Section II addresses the selection of the applicable substantive law by arbitral tribunals in cases where the parties have not agreed on the applicable law. Sections III and IV cover international conventions and, in particular the Hague Trust Convention, as sources for the selection of the applicable law. Section V deals with the validity and effect of arbitration agreements while Section VI considers the effects of a choice of-law-clause and the binding effect of such a clause for the arbitral proceedings. Section VII addresses the effect of specific conflict of laws rules of the Hague Trust Convention on the law applicable to the merits in international trust arbitration disputes.

Principles of Intestate Succession in Israeli Law

1988 ◽  
Vol 22 (3) ◽  
pp. 287-352
Author(s):  
Ariel Rosen-Zvi ◽  
Asher Maoz
Keyword(s):  
Civil Law ◽  
The State ◽  
The Law ◽  
Law Of Succession ◽  
State Of Israel

The principles of the law of succession of the State of Israel are assembled in the Succession Law, 1965. This statute, consisting of eight chapters and 161 sections, constitutes a first attempt at codification of Israeli civil law. The statute was intended to end the recourse to the conglomeration of laws previously applied to a person's succession. We would emphasize in this context the provision of sec. 150 of the statute, which states: “In matters of succession, Article 46 of the Palestine Order-in-Council, 1922–47, shall not apply”.

scholarly journals The Common Law Choice of Law Rules for Resulting and Constructive Trusts

2005 ◽  
Vol 54 (4) ◽  
pp. 855-883 ◽  
Author(s):  
Adeline Chong
Keyword(s):  
Common Law ◽  
Hague Convention ◽  
Choice Of Law ◽  
Foreign Law ◽  
The Common ◽  
The Hague ◽  
English Law ◽  
The Law ◽  
The Hague Convention ◽  
Rules Set

There is a dearth of authority and in-depth discussion concerning what the choice of law rules are for claims involving the assertion that property is held on a resulting or constructive trust. It is usually thought that the choice of law rules set out by the Hague Convention on the Law Applicable to Trusts and on their Recognition (hereafter the ‘Hague Trusts Convention’), as enacted into English law by the Recognition of Trusts Act 1987, apply. However, it is arguable that this is not so for some types of resulting and constructive trusts, namely those governed by a foreign law; or, at the very least, that some doubt exists as to whether the Hague choice of lawrules apply to all resulting and constructive trusts. It is therefore important that the common law choice of law rules for such trusts is clearly elucidated. Unfortunately, this is an area of the law that is distinctly undeveloped. The aim of this article is to consider what are or should be the common law choice of law rules for resulting and constructive trusts.

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