TRUST PROPERTY IN UKRAINE AND FOREIGN LEGAL ORDERS: A COMPARATIVE ASPECT

Abstract

The article is devoted to conducting a comparative legal analysis of the legislative approaches of Ukraine and a number of European countries, devoted to the legal regulation of relations regarding the application of the construction of fiduciary property. It was established that as a result of reception, the institution of fiduciary finds its consolidation in the legal systems of many countries of the world, but the greatest development of the researched institution was, of course, in the countries of the Anglo-American legal system. The essence of an Anglo-American trust is that the trustee is vested by the settlor with a right of ownership which enables him to control and distribute the trust property and to act as owner in relation to third parties, while the beneficiary has an equitable right to the actual or potential benefit of the use of the trust property on conditions established by the founder. It was found that the approach of the French legislator to the legal regulation of fiduciary property relations is more flexible than in domestic legislation, which gives subjects considerable freedom when developing a model of contractual relationship regarding the establishment of fiduciary property. It is established that the Romanian legislation established the understanding of fiduciary as a universal legal institution applicable to a wide range of relationships in the field of fiduciary asset management. A fiduciary in Romania is built as a trust-like structure, which enables the establishment of a regime of trust property with a temporary transfer of ownership to achieve certain goals. The basis of the concept of the “Swiss trust” is its perception as a universal legal instrument, which is used not only in the context of ensuring the fulfilment of obligations, but also for the purposes of creating a family fiduciary fund, managing property and inheritance, etc. It has been established that the Moldovan fiduciary model is quite unique compared to other models, as its concept is the result of a symbiosis of features of the Anglo-American trust and European fiduciary property, their mutual absorption and complementarity.