Considerations on The Legal Framework of Trust and Fiducia Cover Image

Considerations on The Legal Framework of Trust and Fiducia

Author(s): Laura Magdalena Trocan
Subject(s): Civil Law
Published by: Universul Juridic
Keywords: trust; fiducia; fiduciary contract; common-law; assets; patrimony;
Summary/Abstract: The Anglo-Saxon Law, the common-law, differs from the continental law through a series of legal institutions of which the best known is the trust. The Romanian Civil Code, which entered into force on 1 October 2011, with the reform of the unification of private law, introduced unregulated institutions until that date, among which a special place is the fiducia, a legal institution, which, although having its origins in Roman law, was taken over in the continental law by the adaptation of the trust, imposing itself as a necessity, as a result of the development of international trade and affairs. Although the foundations of the trust lie in the matter of fiducia, however, the fact that the two legal institutions belong to different legal systems highlights the existence of substantive differences, which outlines a distinct legal profile, for this reason, in the following, we are proposing a short presentation of the most relevant aspects of the legal regime specific to the two institutions in question.

  • Page Range: 158-164
  • Page Count: 7
  • Publication Year: 2019
  • Language: Romanian