The institution of trust from comparative law perspective and its applicability in Viet Nam

Abstract

Trust is not a new regime, but it has been existing since Roman time and developed profoundly in common-law countries such as England and Unites States ever since. In 2007, trust law has been imported into France, a conservative civil law country which is heavily influenced by theory of France’s legal heritage (Aubry and Rau on the patrimony). French lawmakers have inherited and adjusted the Trust to make it appropriate with their legal system. This proves that there is strong basic for the existence of trust law. Indeed, Vietnam is also a country that follows the civil law tradition and is heavily influenced by the French legal system. In Vietnam, although trust property has not been well-known in practice, it has been existing in civil lives. In current society, there are several legal circumstances to which if we have not applied current regulations shall not be completely resolved. On the contrary, if we apply the trust regime, those legal circumstances shall be well resolved. Therefore, this article focuses in analyzing in depth trust regime from a law comparative perspective and aims at giving a few suggestions on its applicability in Viet Nam.