Traducir Trust Agreement

A position of trust is created when the elector (Settlor or Trustor) entrusts the administration of a beneficial person to a director (agent) for the benefit of a third party (beneficiary). In order for such administration to be implemented, legal property or, in accordance with common law (legal property), must be transferred to fiduciary property, while fair ownership (reasonable or commercial property) is the responsibility of the beneficiary. The duties and duties of the management of the property are thus separated from the benefits and rights of the enjoyment of the property. The trust could therefore be defined as a mechanism for dividing the property against something, in order to protect its beneficiaries (actual or actual owners). Trust is one of the legal institutions characteristic of Anglo-Saxon law and, although it is formed as a mechanism in the field of the family or the private sector, it is now used in other areas such as the economy. In Spain, the Trust is an exclusive succession institution with characteristics very different from those of the Anglo-Saxon trust, so its translation by “trust” is not always correct. Before the conquest of England by the Normans in the 11th century, there were cases where someone (feoffor) transferred his country to another person (use Feoffee or Feoffee) to administer them for the benefit of a third party (beneficiar, Cestui, whether trust or that is use). Today, trusts are considered the largest capital creation that I mentioned in a previous article. One of the most common forms of trust in the family context is the interest of life, which aims to live a family and future generations. Implicit Trusts: In the absence of such a statement, the court is prepared to infer from its words or actions the existence of trust where there are certain circumstances and it is unfair (unfair) for the defendant to deny a certain right to fairness to the protected property. Implicit trusts can in turn be subdivided into trusts: another advantage represented by a trust is that it allows the voter to determine how and when the beneficiaries benefit from the assets concerned by the trust, which is not possible with an unlimited gift (total gift).

Note: In the event of an estate trust, the trusted creator is designated as a tester or testatrix. While they have crystallized to settle land disputes, trusts have evolved today so that their use is different. It is a very flexible mechanism, designed to adapt to different circumstances and needs. The form a trust will take also depends on the tax savings it authorizes. For example, in translating into this area of law, it is important to understand it and become familiar with its rich terminology. In this entry, I explain its characteristics. Explicit or direct trusts: if there is a clear declaration of trust, we speak of explicit or direct trust, that is, expressly created by the voter and voluntarily accepted by the agent. In return, explicit trusts can be subdivided into private trusts created for the good of the individual and not-for-profit foundations formed by the common good.

The confidence of usufruit throughout life has some similarities (but also differences) with the vidual usufruit envisaged in our Civil Code, in the sense that there would also be a development of the domain.

Comments are closed.