On The Structure Of The Legal Property Of The Trust

Structured Trust，as a special form of the Trust, has been widely operating inpractice, however, whether in theory or in practice, the legal attributes of the StructuredTrust has not been unified, it is still mainly depends on some special rules regulated bythe China Banking Regulatory Commission (CBRC),such as “the Notice onStrengthening Trust Company’s Structured Trust Business Regulatory Issues by theChina Banking Regulatory Commission, etc. Characteristic of Structured Trust mainlyreflects on the commercial of the trust business, the income’s differentiation and thedistribution’s order, etc. As a special product form, on the side of been a organization,Structured Trust is not only similar to the Limited Partnership, but also similar to theLimited Liability Company; however, Structured Trust is also depending on the contractthat makes it be contractive. Anyhow, legal attribute of the Structured Trust is stillobscure, thus raising some problems in it’s operation, such as the status and rights of allparties are unclear, trustee’s beneficiary and interests cannot get effective guarantee, etc.The main points of this article is: basing on the current market environment and legalsystem of our country, looking for and arguing about the related path of establishing thelegal attribute of Structured Trust. The paper mainly consists of four parts:The first part is mainly about the summarization of the Structured Trust. This partdemonstrates the uniqueness of the Structured Trust through elaborating the concept andcharacteristics of the Structured Trust.The second part of the text refers to the comparative analysis of the StructuredTrust. In this section, on the one hand, discussing the substantive characteristics ofStructured Trust by comparing with related organizations such as the LimitedPartnership and the Limited Liability Company; on the other hand, discussing thecontractual features of Structured Trust by analyzing the Trust Contract with thecommon Contract. The third part is of the necessity of establishing the legal attribute of the StructuredTrust. This part discusses the significance of establishing the legal attribute of theStructured Trust from both the theory side and the practical side.The fourth part relates to the positioning of Structured Trust’s legal attribute.Basing on the current legal system in our country and the Structured Trust’scharacteristics, this part discusses the basis and the possible ways of establishing thestructured trust’s legal attribute.