부동산 신탁실무에서 개정 신탁법 적용의 한계

Abstract

The Trust Act was revised overall for the first time on July 25, 2011 in 50 years since it was enacted on December 30, 1961. As for the reason for the revision at the time, a sweeping revision was made “to prepare the statutory base for the vitalization of trust by entirely revising the system of the Trust Act in order to reflect the changed economic reality, introducing new systems such as the merger and division of trust, beneficiary certificates, trust bonds, and the limited liability trusts and to improve the trust systems in order to meet the international standards,” and accordingly, various attempts have been made, e.g. Sub-trust became possible. New trust products, based on living trust for will substitute appeared one after another. However, in spite of the positive change that the revised Trust Act brought about, due to the lack of other laws and regulations related to the revised Trust Act, the passive attitude of the trust companies operating trust business towards the application of the revised, and the gaps between some provisions of the revised Trust Act and the trust practice, in fact, the revised Trust Act is slowly applied. Thus, this study would review five items of these various causes, with difficulties in applying the revised Trust Act in trust practices, including ① sub-trust; ② public notification and opposing of trust; ③ the transfer of beneficiary rights; ④ the method of decision-making for multiple beneficiaries; and ⑤ the limited liability trusts, and would discuss them focusing on the real estate trust practices.