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Trusts and Patrimonies$
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Remus Valsan

Print publication date: 2015

Print ISBN-13: 9780748697748

Published to Edinburgh Scholarship Online: September 2017

DOI: 10.3366/edinburgh/9780748697748.001.0001

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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: 22 September 2021

Patrimony not Equity: The Trust in Scotland

Patrimony not Equity: The Trust in Scotland

(p.110) 6 Patrimony not Equity: The Trust in Scotland*
Trusts and Patrimonies

Kenneth G C Reid

Edinburgh University Press

This chapter examines the importance of patrimony as an organising principle of trust in the absence of equity. The law of property in Scotland and other mixed jurisdictions is always civilian; like civil law countries, they do not have a separate system of equity, or acknowledge the distinction between legal and beneficial ownership; and yet all mixed systems have the trust. In addition to the common law trust, there is the civil law trust. Of the civil law trusts, a special place may be claimed for the Scottish trust, the oldest such trust by far and one of the most widely used in practice. The chapter first considers trusts in relation to contracts and real rights before discussing the two patrimonies of a trustee: a private patrimony and a trust patrimony. It also assesses the impact of a trustee's death on the integrity of patrimony, along with the rights of trustees and trust beneficiaries.

Keywords:   civil law trust, patrimony, equity, Scottish trust, contracts, real rights, private patrimony, trust patrimony, trustees, trust beneficiaries

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