Trust and fiduciary transactions : A still ongoing complex process: concise comparison between Italian and German system
Articolo
Data di Pubblicazione:
2022
Citazione:
Trust and fiduciary transactions : A still ongoing complex process: concise comparison between Italian and German system / N. Parodi. - In: MILAN LAW REVIEW. - ISSN 2724-3273. - 3:2(2022), pp. 1-22. [10.54103/milanlawreview/19509]
Abstract:
Before The Hague Convention was signed (on 1st July 1985), it was not allowed to
refer to any trust country’s law as a framework for domestic trusts having no
international objective elements. The Hague Convention has instead allowed it,
but it has also enabled its signatory Member Countries to outlaw any reference to
such a framework (art. 13 The Hague Convention).Well, shortly after The Hague
Convention came into force, Italy has instead largely acknowledged the legitimacy
of domestic trusts, while extensively enforcing some domestic rules deemed to be
binding under articles 15 and 18 of the Hague Convention. France’s and
Germany’s approach have been different. France has ratified the Convention, but
it has also enacted a trust-related law regulating any domestic fiduciary
transactions (Act dated 19th February 2007. De la fiducie). Germany (which has
not ratified The Hague Convention) has drawn up specific rules about fiduciary transactions, giving rise to an increasingly clear development over the last twenty
years. Therefore, three different solutions to the same substantial problems in
major Civil-law Countries. This essay outlines and focuses on the development of
the German system.
Tipologia IRIS:
01 - Articolo su periodico
Keywords:
Trust; Italian system; German system
Elenco autori:
N. Parodi
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