Cases, Materials and Text on Property Law by Sjef van Erp & Bram Akkermans

Author:Sjef van Erp & Bram Akkermans
Language: eng
Format: epub
Publisher: Hart Publishing
Published: 2012-10-16T04:00:00+00:00

I.B.2 PARTIES TO THE TREUHAND

As far as the parties to the contract are concerned, the person setting up the Treuhand is defined as the Treugeber, and the manager as the Treuhänder. Anyone with legal capacity can be a Treugeber or Treuhänder, be it a natural or a legal person. By contrast, in France only avocats or certain corporate bodies can operate as a fiduciaire.30 Depending on which interests are furthered, the Treuhandabrede is or is not a contract in favour of third parties.

Interestingly, the German vocabulary does not provide for a specific expression in order to identify the third party beneficiaries. This is probably due to the fact that the German Treuhand is largely conceived of as a relationship between two parties, the Treugeber and the Treuhänder, and not a three-party relationship. Be that as it may, anyone with legal capacity can be nominated as a beneficiary of a Treuhand. Both Treugeber and Treuhänder can be either the sole beneficiary or one of many (this is in marked contrast with English law where the trustee cannot be the only beneficiary). In the case of a Treuhand used for security purposes, the Treuhänder is usually the beneficiary, whereas in the case of a Treuhand for management purposes, the beneficiary is often the Treugeber himself.

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