I. Article 7
To establish a trust, there must be definite trust property, which must be legally owned by the client.
Property referred to in this law includes legal property rights.
Two. Article 8
The establishment of a trust shall be in writing.
Written forms include trust contracts, wills or other written documents stipulated by laws and administrative regulations.
Where a trust is established in the form of a trust contract, the trust is established when the trust contract is signed. Where a trust is established in other written forms, the trust shall be established when the trustee promises.
Three. Article 9
To establish a trust, its written documents shall contain the following items:
1. Trust purpose;
2. Names and domiciles of the trustor and the trustee;
3. Beneficiary or beneficiary scope;
4. The scope, types and conditions of the trust property;
5. The form and way for the beneficiary to obtain the trust benefits.
In addition to the matters listed in the preceding paragraph, the term of the trust, the management method of the trust property, the remuneration of the trustee, the way of the new trustee, the reasons for the termination of the trust and other matters may be stipulated.
Extended data:
When establishing a trust, the trust property shall be registered in accordance with relevant laws and administrative regulations. If the trust is not registered in accordance with the provisions of the preceding paragraph, the registration formalities shall be completed; If it is not reissued, the trust will not take effect.
If the trustor establishes a trust that harms the interests of the creditors, the creditors have the right to apply to the people's court for revocation of the trust. If the people's court revokes the trust in accordance with the provisions of the preceding paragraph, it will not affect the trust interests already obtained by the bona fide beneficiaries. If the right of application stipulated in the first paragraph of this article is not exercised within one year from the date when the creditor knows or should know the reason for revocation, the right of application shall be extinguished.
The establishment of testamentary trust shall abide by the provisions of the inheritance law on wills. If the person designated in the will refuses or is unable to act as the trustee, the beneficiary shall appoint another trustee; If the beneficiary is a person without or with limited capacity for civil conduct, it shall be designated by his guardian according to law. If there are other provisions on the appointment of the trustee in the will, such provisions shall prevail.
Baidu Encyclopedia-People's Republic of China (PRC) Trust Law