In Italian trust law, a trust is a particular juridical instrument by which a settler (disponente) can transfer a property (movable or immovable property) to a trustee, who has to exercise and manage this right for a beneficiary (to whom the full property will be transferred with the termination of the trust) who has the "equitable right". In civil law systems, the beneficiary’s right is not a "diritto reale" but a "personal right" towards the "trustee". If it is not foreseen by the constitutive contract, the property assets cannot be alienated by either the trustee or the beneficiary. Trust property cannot be foreclosed by the personal creditors of the trustee, the beneficiary, or their heirs.
In Italy, trusts can be used thanks to the adoption of the Hague Convention (1 July 1985),[1] effective from 1 January 1992. The "trust interno" is a domestic trust, but refers to a foreign regulation because as of August 2010 Italy does not have a complete and organic internal regulation on trust. Trusts can be used for various aims:[2] administration, transfer of family business assets, transfer of goods for charity purposes, protection of patrimony, etc. The main advantages are the flexibility of its use and its economic convenience compared to Italian traditional juridical instruments. Nevertheless, they have not enjoyed widespread usage in Italy, mainly because of the scarce knowledge of their functioning.
Proposed legislation
Italy has proposed its own regulation on trust (fiducia). The Italian government has been tasked by the Community Law 2010 (bill/ legge comunitaria)[3] with adopting a specific regulation on trusts within the Italian juridical system (title II art. 11). The "disegno di legge n. 2284/2010" (bill n. 2284/2010),[4] an unexamined bill presented by the Ministry of Justice in July 2010, charges the Government with modifying the civil code as concerns trusts and that particular form of security contract.
The proposed Italian regulation on trusts is inspired by the French fiducie, which encompassed (by ordinance nº 2009-112 2009) individuals and corporations excluded from the payment of corporate taxes; the capacity to constitute a trust; and permission for attorneys to become trustees.[5]
^Andreoli, E. (2003). "Trust and Company Law – The Italian Experience". In Atherton, Rosalind (ed.). Estates, taxes, and professional ethics: papers of the International Academy. Kluwer Law International. pp. 7–23. ISBN9789041122230.
^"Dipartimento Politiche Comunitarie – Legge Comunitaria 2010".
^Emanuele Calò – Antonio Cappiello (2010), "La legge francese sulla fiducie (trust): prospettive e possibilita` per una legge italiana", Famiglia, Persone e Successioni FPS 2010 n. 6, UTET Giuridica
May 06, 2023
italian, trust, this, article, multiple, issues, please, help, improve, discuss, these, issues, talk, page, learn, when, remove, these, template, messages, this, article, confusing, unclear, readers, please, help, clarify, article, there, might, discussion, ab. This article has multiple issues Please help improve it or discuss these issues on the talk page Learn how and when to remove these template messages This article may be confusing or unclear to readers Please help clarify the article There might be a discussion about this on the talk page August 2016 Learn how and when to remove this template message The lead section of this article may need to be rewritten Use the lead layout guide to ensure the section follows Wikipedia s norms and is inclusive of all essential details August 2016 Learn how and when to remove this template message Learn how and when to remove this template message In Italian trust law a trust is a particular juridical instrument by which a settler disponente can transfer a property movable or immovable property to a trustee who has to exercise and manage this right for a beneficiary to whom the full property will be transferred with the termination of the trust who has the equitable right In civil law systems the beneficiary s right is not a diritto reale but a personal right towards the trustee If it is not foreseen by the constitutive contract the property assets cannot be alienated by either the trustee or the beneficiary Trust property cannot be foreclosed by the personal creditors of the trustee the beneficiary or their heirs Contents 1 Current situation 2 Proposed legislation 2 1 In specific jurisdictions 3 See also 4 ReferencesCurrent situation EditIn Italy trusts can be used thanks to the adoption of the Hague Convention 1 July 1985 1 effective from 1 January 1992 The trust interno is a domestic trust but refers to a foreign regulation because as of August 2010 Italy does not have a complete and organic internal regulation on trust Trusts can be used for various aims 2 administration transfer of family business assets transfer of goods for charity purposes protection of patrimony etc The main advantages are the flexibility of its use and its economic convenience compared to Italian traditional juridical instruments Nevertheless they have not enjoyed widespread usage in Italy mainly because of the scarce knowledge of their functioning Proposed legislation EditItaly has proposed its own regulation on trust fiducia The Italian government has been tasked by the Community Law 2010 bill legge comunitaria 3 with adopting a specific regulation on trusts within the Italian juridical system title II art 11 The disegno di legge n 2284 2010 bill n 2284 2010 4 an unexamined bill presented by the Ministry of Justice in July 2010 charges the Government with modifying the civil code as concerns trusts and that particular form of security contract The proposed Italian regulation on trusts is inspired by the French fiducie which encompassed by ordinance nº 2009 112 2009 individuals and corporations excluded from the payment of corporate taxes the capacity to constitute a trust and permission for attorneys to become trustees 5 In specific jurisdictions Edit Argentinian law number 24 441 of 1994 Australian trust law Henson trust Trust law in Civil law jurisdictions Trust law in England and Wales Trust Law of the People s Republic of China United States trust law WaqfSee also EditTrust law Fiducie fr References Edit HCCH 30 Full text www hcch net Andreoli E 2003 Trust and Company Law The Italian Experience In Atherton Rosalind ed Estates taxes and professional ethics papers of the International Academy Kluwer Law International pp 7 23 ISBN 9789041122230 Dipartimento Politiche Comunitarie Legge Comunitaria 2010 Italian Senate Act n 2284 Emanuele Calo Antonio Cappiello 2010 La legge francese sulla fiducie trust prospettive e possibilita per una legge italiana Famiglia Persone e Successioni FPS 2010 n 6 UTET Giuridica Retrieved from https en wikipedia org w index php title Italian trust law amp oldid 1136999952, wikipedia, wiki, book, books, library,
