Legal Newsletter 3- Trust and fiduciary contracts

Theres is no generally accepted definition and model to trust and fiduciary contracts in European legal systems.

One of the features- common in a number of other, internationally known and adopted, trust constructions, is that according to the legal relationship which serves as the framework of the trust system, the legal ownership of defined objects, rights and claims constituting the asset of one of the legal entities (the settlor) are transferred to the other legal entity (the trustee), who- by practicing the rights of decision making- shall utilize the so gained legal ownership in favor of a third party (the beneficiary).

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