Trust of Estate Law and it’s Peculiarities in Lithuanian Civil Law (article in Lithuanian)

Justas Sakavičius

Abstract


This article analyzes the institute of trust of estate. Trust of estate is well known in Common law countries under a term of trust, however in Continental law system countries this legal instrument is not widely spread. Lithuania might be considered as an exception, because trust of estate law in this country is being widely used to manage state and municipal property. However, the law of trust of estate is not very popular for private estate
planning. The article presents a genesis of trust of estate law and its main differences from Anglo-American trust. The conclusion is made, that a trust of estate law in Continental law counties and Common law trust, although has a similar form, but in content has substantial differences. Further, a development of Lithuanian trust institute is reviewed. Lithuanian law of trust of estate has developed under the influence of Russian civil law. It has evident similarity to a regulation of trust of estate agreement in Russia. However, there can be found essential differences between Lithuanian and Russian trust law, i.e. Lithuania considers trust of estate institute as proprietary (real) right, meanwhile Russian regulation acknowledges trust of estate as obligatory right.

Keywords


trust of estate law; agreement of trust of estate; trust; state and municipal property; derivative proprietary (real) right

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"Societal studies" ISSN online 2029-2244 / ISSN print 2029-2236