The trusteeship is the juridical operation, by which one or more constitutors transfer real rights, claim rights, warranties or any other patrimonial or a assembly of such rights, present or future, to one or more trustees, who administrate them with a certain purpose, in the interest of one or more beneficiaries.
For such an operation, the closure of an authentic act and its registration at the competent fiscal organ is required, as well as at the Electronic Archive of Mobile Warranties or at the Real Estate Registry.
The trusteeship is used for different purposes: for the administration of retirement or insurance funds, the protection of persons incapable of administrating their assets.
Part of the trusteeship are usually:
- The constitutor – any natural or juridical person.
- The trustee – investment societies, insurance and reinsurance societies, public notaries and lawyers.
- The beneficiary – a third person, (the trustee or the constitutor might be the beneficiary)
The trusteeship is established by both parties through a contract or by the law.
For any further details, contact NARTEA & PARTNERS LAWYERS by telephone, email or by the online form.