Любое копирование материалов с сайта с обязательной ссылкой на источник!
The Law of Ukraine “On making amendments to Certain Acts as regards Encouraging Investment Activity in Ukraine”, adopted by the Verkhovna Rada of Ukraine on September 20, 2019, introduced into Ukrainian legislation the concept of trust ownership as a way of ensuring fulfillment of obligations, which is a type of property right property for which the creditor who has received the property in the trust ownership (the trustee) is not entitled to dispose of such property independently, except for the purpose of recovering it, as well as redeeming it for public needs in the order established by the law.
Under the agreement establishing the trust ownership, one party (the trust founder) transfers the property to the other party (the trustee) based on the right of the trust ownership to secure the debtor’s obligations under the credit contract, the loan agreement. In this case, the property right of the person who has transferred his property into the trust ownership shall be terminated from the moment of establishing the trust ownership.
It is also possible to obtain property into trust ownership under a contract for the acquisition of property in trust ownership from a third party in the interests and upon the recommendation of the other party.
The main characteristics of trust ownership as a way of securing obligations are:
Trust ownership as a way of securing obligations has a lot in common with a mortgage, but it also has its own peculiarities. Time will tell the benefits inherent in this institute and the risks it will bring to the Ukrainian legal system.
– Oleg Zheryobkin, attorney at Dynasty Law Firm.