Untrustable

Trust property refers to the property transferred by the trustor to the trustee through trust behavior and managed or disposed of by the trustee according to a certain trust purpose, as well as the property income obtained after management, use or disposal. Property prohibited from circulation by laws and administrative regulations shall not be used as trust property; Property whose circulation is restricted by laws and administrative regulations may be used as trust property after being approved by the relevant competent department according to law. Trust property includes: funds, movable property, real estate and other property rights.

ii. conditions of trust property

trust property is the property that the trustee transfers to the trustee for management or disposal. As the trust laws of various countries do not restrict the conditions of trust property in the overall sense, we can think that anything with property value, no matter what form it takes, can be used as trust property in principle. Such as movable property and immovable property, property rights and creditor's rights, securities such as stocks and bonds, and intellectual property rights such as patents, trademarks and copyrights. Personal rights, such as name rights, reputation rights, identity rights, etc., cannot be used as trust property because they have no property value. In countries where trust is prevalent, the common trust properties are currency, real estate, movable property, marketable securities, intellectual property and other property rights.

in principle, anything with property value can become trust property except the property whose circulation is prohibited or restricted by laws and administrative regulations. However, there are exceptions. Some countries' laws treat some trusts with specific identities as trustees. Clearly stipulate that its trust property is limited to certain types of property. For example, Article 4

of the Trust Industry Law of Japan stipulates that a trust company shall not assume trust for any property other than the following: (1) money; (2) Securities; (3) Money creditor's rights; (4) movable property; (5) Land and its fixtures; (6) superficies and leasehold rights of land. Article 1 of the Trust Industry Law of Korea stipulates that trust societies shall not accept property trusts other than the following items: (1) currency; (2) Securities; (3) Monetary creditor's rights; (4) Current assets; (5)

land and buildings; (6) Property right, inheritance right and land lease right, etc.

the property acquired by the trustee after accepting the trust is trust property, and the independence of the trust property determines that it is independent from the inherent property of the trustee. The inherent property of the trustee, in the trust law, refers to all the property that has been owned by the trustee before the establishment of the trust legal relationship. There is no legal connection between the trustee's inherent property and the trust legal relationship. In order to avoid confusion between the trust property and the trustee's inherent property, it is necessary to clarify the scope of the trust property.

iii. what is the scope of the trust property

the scope of the trust property shall be determined on the direct basis of the trust documents. Trust laws in some countries regard trust documents as the basic evidence for the court to confirm the scope of trust property. For example, American trust law holds that the court's confirmation of the scope of trust property must focus on the relevant contents recorded in the trust document, and the confirmation can also resort to the explanation of the above contents left by the trust parties in the document when necessary, but this explanation cannot be a deductive description, otherwise the content can only be confirmed by other evidence when necessary. The trust property determined according to the trust documents is the property transferred by the trustee to the trustee when the trust legal relationship is established, that is, the original trust property. During the existence of the trust legal relationship, the property acquired by the trustee due to the management or disposal of the trust property or other circumstances also belongs to the scope of the trust property. Specifically, it includes the following:

1. The property acquired by the trustee due to the management of the trust property. The trustee has the right to manage the trust property according to law. If the trustee obtains certain income in the process of managing the trust property, this income also belongs to the trust property in nature. In this regard, the trust laws of common law countries and civil law countries have clear provisions. For example, American trust law holds that all the rights and interests arising from real estate, movable property or money as trust property should be regarded as part of trust property. Article 19 of the Korean Trust Law and Article 14 of the Japanese Trust Law stipulate that the property acquired by the trustee due to the management of the trust property belongs to the trust property.

2. the property acquired by the trustee as a result of disposing of the trust property. The trustee has the right to dispose of the trust property according to law. The property obtained by the trustee from disposing of the trust property still belongs to the trust property in nature. In this regard, the trust laws of common law countries and civil law countries also have clear provisions. For example, according to the American Trust Law, as long as there are provisions in the trust documents, the income obtained from the sale of real estate or movable property as trust property will become part of the trust property even if the amount exceeds the estimated value of the above-mentioned sold property when the trust is established. Article 19 of the Korean Trust Law and Article 14 of the Japanese Trust Law all stipulate that the property acquired by the trustee due to the disposition of trust property belongs to trust property.

3. the property acquired by the trustee due to the loss or damage of the trust property. During the existence of the trust legal relationship, the trustee has the obligation to protect the trust property. If the trust property is lost or damaged due to the fault of the trustee or the fault of a third party, the trustee shall compensate by himself or by a third party. Property compensated by the trustee himself or by a third party also belongs to trust property in nature. In this regard, the trust law of civil law countries has clear provisions. For example, Article 19 of the Korean Trust Law and Article 14 of the Japanese Trust Law stipulate that the property acquired by the trustee due to the loss or damage of the trust property belongs to the trust property. The trust law of common law countries also holds a positive attitude towards this. For example, Article 2 of the British Trustee Act stipulates that where the insured trust property is damaged or lost due to the behavior of a third party, the insurance money obtained by the trustee according to the insurance policy shall become trust funds according to the purpose of granting the trust or property.

4. property increased by the trustee. In the process of trust operation, the trustee can decide to invest his other property in the process of trust operation according to the special authorization in trust deed, and the property thus added belongs to trust property in nature. In this regard, the trust law of common law countries has clear provisions. For example, the American trust law holds that if a trust document has provisions, the trustee has the right to modify the terms of this document to increase the trust fund; Both the increased money and securities form part of the trust fund. In addition, even if there is no special authorization in trust deed, the trustee can invest his other property in the trust operation process as long as it is agreed with the trustee. Because the additional property is agreed by the trustee and the trustee through consultation, the additional property is of course also a trust property.