Jump to ContentJump to Main Navigation
Trusts and Patrimonies$
Users without a subscription are not able to see the full content.

Remus Valsan

Print publication date: 2015

Print ISBN-13: 9780748697748

Published to Edinburgh Scholarship Online: September 2017

DOI: 10.3366/edinburgh/9780748697748.001.0001

Show Summary Details
Page of

PRINTED FROM EDINBURGH SCHOLARSHIP ONLINE (www.edinburgh.universitypressscholarship.com). (c) Copyright Edinburgh University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in ESO for personal use.date: 28 September 2021

Trust and Patrimony

Trust and Patrimony

(p.42) 3 Trust and Patrimony*
Trusts and Patrimonies

Lionel D Smith

Edinburgh University Press

This chapter examines whether the common law trust can be understood as a patrimony in the civilian sense. It begins with a discussion of Pierre Lepaulle's claim that the common law trust is a patrimony affected to a destination or purpose. It then considers the situation of creditors and beneficiaries in a common law trust before advancing the argument that, contrary to the position taken by Lepaulle, the common law trust is not a patrimony. It contends that only trustees have direct access to the trust assets; trust creditors, and even beneficiaries, do not. It also asserts that the essence of the common law trust lies not in any division of ownership of the trust property, but in the fact that the trust beneficiaries hold rights in the rights that the trustee holds as trust property. The chapter concludes by relating the trust institution to the idea of legal personality.

Keywords:   common law trust, patrimony, Pierre Lepaulle, trustees, trust assets, trust creditors, trust beneficiaries, trust property, legal personality, trust

Edinburgh Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs, and if you can't find the answer there, please contact us.