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Amendments concerning the Hungarian Legal Regulation of the Fiduciary Asset Management (Trust)

Bodzási, Balázs (2018) Amendments concerning the Hungarian Legal Regulation of the Fiduciary Asset Management (Trust). Acta Juridica Hungarica: Hungarian Journal of Legal Studies, 59 (3). pp. 260-270. DOI https://doi.org/10.1556/2052.2018.59.3.2

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Official URL: https://doi.org/10.1556/2052.2018.59.3.2


Abstract

The institution of fiduciary asset management (trust) has been introduced into the Hungarian civil law by the Civil Code of 2013. The Hungarian regulation may be considered as a high standard – even in the international context. Its main advantage is its adaptability. However, after the entry into force of the Civil Code, many questions were addressed during the application that the legislature had to answer. The amendments of 2017 were adopted to strengthen the protective function of the fiduciary asset management regarding the trust property but on the other hand, the relationship between this new legal institution and the law of succession has also needed to be clarified. The purpose of the legislation through the amendments was clearly to facilitate an operable asset management construction that attracts Hungarian and foreign settlors as well.

Item Type:Article
Uncontrolled Keywords:separation of assets, protection of trust property, principle of reasonable commercial practices, ownership concerning the fiduciary asset management relationship, right to recover the assets
Subjects:Law
Funders:Pallas Athéné Domus Sapientiae Foundation
Projects:PADS Leader Research Program
DOI:https://doi.org/10.1556/2052.2018.59.3.2
ID Code:4447
Deposited By: MTMT SWORD
Deposited On:14 Jan 2020 09:09
Last Modified:14 Jan 2020 10:16

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