Job Recruitment Website - Property management company - The functions of the trust are as follows
The functions of the trust are as follows
Legal basis: Article 2 of the Trust Law of People's Republic of China (PRC). "Trust" as mentioned in this Law refers to the act that the trustor entrusts his property rights to the trustee, and the trustee manages or disposes in his own name for the benefit of the beneficiary or for a specific purpose according to the wishes of the trustor.
Because trust is a legal act, the definition of trust in different legal systems is very different. There have been many different definitions of trust in history, but today, people have not reached a complete understanding of the definition of trust.
To sum up, the trust function is "entrusted by people, entrusted by people, managing money on behalf of others", that is, the following property management functions:
1. Management covers a wide range: all property, intangible assets and tangible assets; Natural persons, legal persons, other legally established organizations and countries;
2. The particularity of management purpose: for the benefit of beneficiaries;
3. Responsibility for management behavior: if losses occur, the trustee will not be liable as long as it meets the provisions of the trust contract; If losses are caused by the gross negligence of the trustee in violation of these regulations, the trustee shall be liable for compensation;
4. Limitation of management mode: The trustee can only manage and dispose of the trust property according to the purpose of the trust, and cannot use the trust property at will according to his own needs.
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