Principles of European Trust Law

Common patterns of development, similar social condi­tions, use of the same legal sources, and a coincidence of

^3,8 Helmholz (n. 316) 171. -^w Ibid.

³⁵⁰ Jerome, Epistolar 52.

³⁴¹ See, e.g., the observations by Karl Otto Schemer, 'Formen der Treuhand im alten deutschen Recht', in I lelmholz and Zimmermann (n. 321) 262 ff.

³⁵² See, e.g., the contributions to Lloyd Bonfield (cd.), Marriage, Property, and Succession (1992); Klaus l.uig, 'Philipp Knipschildt und das Familienfideikommiß im Zeitalter des Usus modernus', in Helmholz and Zimmermann (n. 321) 361 ff.; Jorn Eckert, 'Use, Trust, Strict Settlement: Fideikommißähnliche Bindungen des Grundbesitzes in England', in Wirkungen eiiropltischer Redilskiilhir: Festschrift für Karl KmescMI (1997), 187 ff.

³³³ On the origins of which, see Gareth Jones, Histon/ of the Law of Charity 1532-1827 (1969), 22 if.; Harald Siems, 'Von den piae Causae zu den Xenodochien', in Helmholz and Zimmermann (n. 321) 57 ff. purposes pursued: it can hardly be maintained that a wall of incomprehension separated the English trust from the law of the Continent.³³⁴ Rather, the trust appears to be the specifically English variation of a common European theme.³⁵⁵ It has turned out to be a device that is particularly useful and adaptable to many different needs and circum­stances. Thus, it has generated great interest, worldwide. The Hague Convention on the Law Applicable to Trusts and their Recognition declared that trusts created in accor­dance with its terms were to be recognized and protected by all signatory states.³⁵⁶ Italy and the Netherlands were the first civil law countries to ratify the Convention. In both countries it has been received with considerable enthusi­asm.³⁵⁷ Liechtenstein has received a form of the trust³⁵⁸ and even France has advanced to the point of introducing the fiducia into its code civil?⁵⁹ Earlier this year an International

³⁵¹ Ci.

³⁵⁵ The _mo5t basic difference being that the English trust gives effect in mu to the interests behind a trust whereas its civilian analogues are based, essentially, on a contractarian analysis. 1 lowever, in modern German law the position of the Trettgeber as against third parties has been strengthened to the point where it is possible to describe his rights as quasi-dinglich: see Helmholz and Zimmermann (n. 321) 35 with references; and see Stefan Grundmann, The Evolution of Trust and Treuhand in the 20th Century’, in Helmholz and Zimmermann (n. 321) 469 ff.

³⁵⁶ For the English and French versions of this Convention, see (1986) 50 RabelsZ 698 ff.

See Ilaria Benevenli (ed.), / trusts in Italia oggi (1996); Maurizio Lupoi, Trusts (1997); idem. Trusts and Civilian Categories (Problems Spurred by Italian Domes­tic Trusts)', in Helmholz and Zimmermann (n. 321) 495 ff.; Frans Sonneveklt and Harrie L. van Mens (eds.), The Trust: Bridge or Abyss between Common Law and Civil Law Jurisdicfions? (1992); D. J. Hayton, S. C. J. J. Korlmann, et al. (eds.), Vertrouwd met de trust (1996); Margareta Elizabeth Koppenol-Laforce, Het Haagse trustverdrag (1997). Cf. also Smits (n. 5) 261 ff.

^3W See Harald Bosch, Die liechtensteinische Treuhänderschaft zwischen trust und Treuhand (1995), 64 ff., 246 ff.; Klaus Biedermann, The Trust in Liechtenstein Low, tr. H. Gerald Crossland (1984), 59 ff. For Luxembourg and Switzerland see, most recently, Gerhard Wolter, Treuhnndrechl im Umbruch? Ein Blick nach Frankreich, Luxemburg, in die Schweiz und in den Lilwion sowie auf das Haager Trust-Übereinkom­men (1999), 123 ff., 143 ff.

359 See Claude Witz, 'La Fiducie en Europe: France, Suisse, Luxembourg, Working Group, based at the University of Nijmegen, produced a set of Principles of European Trust Law.³⁶⁰ Significantly, in the introduction to these Principles, the editors refer to Roman-Dutch law in South Africa and to Scots law as being able to offer especially interesting expe­riences.³⁶¹ Neither of these systems, they say, knew the institutional separation of law and equity. Both have a law of property based on Roman legal concepts. None the less, both Scots law and South African law have today a vigor­ous law of trusts.

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