Trust /Fiduciae (Ro.: Fiducie, Gr.:  καταπίστευμα, Cz.: svěřenectví) = An agreement in which a settlor transfers property to a trustee in order for the latter to hold and administrate it for the benefit of a third party (beneficiary). 

The term has its origins in Roman law, is mostly used in common law and has been recently adapted to civil law systems. Even though the terms share the same principles, substantial differences can be emphasized between trust used in common law as opposed to fiduciae used in civil law: 

1. Trust represents a division of property, while fiduciae represents a distinct capital.

2. Trust can be created through will, while fiduciae cannot. 

3. A settlor in a trust agreement can also be a trustee.

Deed of ~ (Ro.: actul propriu-zis, as instrumentum) = Instrument creating a trust. In some situations it can have the same effect as a mortgage, or it simply transfers property to the trustee and follows the terms of the trust.


Useful links

Legislation - Hague conference on private international law, Convention on the law applicable to trusts -French draft regulations on trust - Legislation Governing trusts and Foundations Australia - Financial Services and Treasury Bureau, Hong Kong, Detailed Legislative proposals on Trust Law - Romanian Civil Code, art. 773-791

Online Publications - Virginia Law review, Definition of a trust  - Dan Chirica, Fiducia in Noul Cod Civil - Hunor Burian, Fiducia in lumina Noului Cod Civil -  Nicoleta Cherciu, Comprehending a deed of trust? - Comparison between English and American Trusts


By Alexandru Coraș