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Civil law. Part II. Concept and characteristics of a property trust management agreement. Parties to the contract (most important)

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69. CONCEPT AND CHARACTERISTICS OF THE CONTRACT OF TRUST MANAGEMENT OF PROPERTY. PARTIES TO THE AGREEMENT

On property trust agreement one side (management founder) passes to the other party (trustee) for a certain period of time, property in trust management, and the other party undertakes to manage this property in the interests of the founder of the management or the person specified by him (beneficiary).

The transfer of property for trust management does not entail the transfer of ownership of it to the trustee.

A property trust management agreement is one of the types of property management. In addition to contractual property management, there is management based on the law (Article 1026 of the Civil Code). This is a new type of contract for domestic legislation.

Characteristics of the contract trust management of property: real; can be both paid and free of charge; mutual if it is reimbursable; can be both free and mandatory; can be both in favor of the founder of trust management, and in favor of the person appointed by him.

This agreement is regulated only by the Civil Code of the Russian Federation (Articles 1012-1026).

As a founder of trust management of property may act: any owner of property (in relation to his property - Article 1014 of the Civil Code);

▪ a person authorized by law:

a) the body of guardianship and guardianship (in relation to the property of an incapacitated person);

b) arbitration court (in relation to the property of a person declared bankrupt);

c) the testator in relation to his property (by appointing an executor in his will - Article 1026 of the Civil Code);

d) authors of works of science, art, literature, as well as creators of objects related to copyright in relation to their property rights in relation to works created by them.

As a trustee of property managementbased on an agreement, only entrepreneurs, both collective (commercial legal entities) and individual, can act. In cases where trust management is based on the law, any citizens and non-profit organizations can act as a trustee, with the exception of institutions, state bodies and local governments (clauses 1, 2 of article 1015 of the Civil Code).

As a beneficiary any persons appointed as the founder of trust management can act, with the exception of the trust manager (clause 3 of article 1015 of the Civil Code). Their number is not limited.

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