THE TRUST ACCORDING TO PRESENT CIVIL REGULATION

Originally, the fiduciary deed is a legal operation inspired from the Anglo-Saxon Institution of Trust. For the first time in the Romanian legal system, the trust is regulated under the Title IV of the Third Book “Regarding the Goods” of the New Civil Code. The Article 773 defines fiduciary deed as the legal transaction by which one or more settlors transfer real rights, securities or other property rights, or a set of such rights, present or future, to one or more trustees that exercise them with a defined purpose, for the benefit of one or more beneficiaries. These rights form an autonomous property fund distinct from the other rights and obligations in the assets of the trustees. Thus, the trust is a real application of a patrimony divisibility.