On The Subjectivity Of Trust

As a imported product transplanted from the common law system in China,the trust system has formed a trust legal system with Chinese characteristics centered on commercial trust or financial trust since its introduction.As an important pillar of China’s economic industry,the legal relations arising from the outside world in the process of participating in market transactions are getting more complex and difficulty.It is very significant to determine their respective positions and rights and responsibilities in these legal relations.Whether in common law countries or civil law countries,whether trust can be an independent legal subject has always been a hot topic of great concern and debate in the trust legal community,primarily including theory of property rights,theory of contract and theory of organization.At present,according to China’s current laws and regulations and relevant rules and regulations,trust does not have the qualification of legal subject,but it cannot be denied that it has the functional status of legal subject.The theory of trust entities in tax law is the best example.In practice,the degree of subjectivity of trust is deepening,and it is gradually recognized as having independent legal subject qualification.It is the United States that first recognizes that trust has subjective qualifications.Later,experts and scholars gradually change their way of thinking from the beginning,analyzing and identifying trusts from the perspective of organizational or subjectivity of trust,believing that trust has the characteristics of organization and the need to be an independent legal subject.More importantly,it is theoretically clarified that trust can be an independent legal subject,which can not only break the understanding of trust from the perspective of property rights and creditor’s rights,but also better clarify the internal and external legal relations of trust,solve a series of contradictions such as trust transplantation and ownership of trust property,and promote trust theory.It is better integrated with our legal system.