Creating the trust – II

Moffat, Graham; Bean, Gerry; Probert, Rebecca

doi:10.1017/cbo9780511840517.007

Cited by 1 publication

(2 citation statements)

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“…The appointment of trustee is very important since the trustee not only has the power to decide the beneficial entitlement but also is responsible for the trust administration. 21 22 Under Measures for the Administration of Trust Company, any institution or individual is prohibited from carrying out trust business and using "trust company" in its name unless they are permitted by China Banking Regulatory Commission (CBRC). 23 In "Yiyang Model", the local government established trust company which acted as trustee in the land trust.…”

Section: B Trusteementioning

confidence: 99%

“…43 In traditional trust, the settlor is the law-maker who makes the law from which trustee must not deviate. 44 In another word, trust is a legal tool to maximize the interests on property. In Shaoxing Model and Zhongxing Model the peasants are neither the settlor nor the beneficiary of the land trust and they lose the opportunity to maximize their right to LCM.…”

Section: A Changing the Status Of Peasants In The Land Trustmentioning

confidence: 99%

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Study on the Perfection of Chinese Land Trust

Cai¹

2019

Proceedings of the 4th International Conference on Economy, Judicature, Administration and Humanitarian Projects (JAHP 2019)

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Chinese land trust models all have defects which result in peasants contributing their right to land contractual management but not benefitting fully from the increased agricultural production that ensues. They are not precisely settlors under existing land trust models so they are not able to exercise many control rights normally available to trust settlors. Nor are they exactly the beneficiaries so they do not get the full economic benefit from the rights they contribute. The key challenge for Chinese land trusts are that trustee can't easily negotiate with individual peasants and that the land trusts models cannot easily negotiate with individual peasants. "Unit trust" or similar models may be an avenue to avoid the transaction cost difficulties, an approach that does indeed seem promising.

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Section: B Trusteementioning

confidence: 99%

Section: A Changing the Status Of Peasants In The Land Trustmentioning

confidence: 99%