Post by Sapphire Capital on Aug 11, 2008 20:51:30 GMT 4
Trust: Transcription and Opposability of the 'Segregation'
Federico Mottola Lucano
April 2008
ILSU Working Paper No. 2008-03/IT
Abstract:
The main objective of the paper is to clarify, as far as possible, the issues raised in civil law countries - and Italy in particular - by the introduction of a common law legal category like that of trust. The work sets off from a new piece of legislation issued by the Italian government in 2006, regulating the transcription of acts of destination for the fulfillment of interests worthy of legal protection, referred to people with disabilities, to public administrations and to other entities or physical persons. In a simple and basic way, the Italian legislator tried to introduce by a mere law of application (transcription, which is the formal procedure one has to undertake to be entitled of certain estates by means of law) what instead ought to be regarded as a substantial change in the way property is understood in Italian law. In this respect, it is concluded that the main difference between civil law and common law systems, as will be appropriately illustrated in the paper, lies in the fact that the former have flexible instruments to protect titles and interests, while the latter are bound to ancient actions, and can't therefore adapt to smoother solutions.
papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID1138816_code992047.pdf?abstractid=1117899&mirid=3
Federico Mottola Lucano
April 2008
ILSU Working Paper No. 2008-03/IT
Abstract:
The main objective of the paper is to clarify, as far as possible, the issues raised in civil law countries - and Italy in particular - by the introduction of a common law legal category like that of trust. The work sets off from a new piece of legislation issued by the Italian government in 2006, regulating the transcription of acts of destination for the fulfillment of interests worthy of legal protection, referred to people with disabilities, to public administrations and to other entities or physical persons. In a simple and basic way, the Italian legislator tried to introduce by a mere law of application (transcription, which is the formal procedure one has to undertake to be entitled of certain estates by means of law) what instead ought to be regarded as a substantial change in the way property is understood in Italian law. In this respect, it is concluded that the main difference between civil law and common law systems, as will be appropriately illustrated in the paper, lies in the fact that the former have flexible instruments to protect titles and interests, while the latter are bound to ancient actions, and can't therefore adapt to smoother solutions.
papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID1138816_code992047.pdf?abstractid=1117899&mirid=3