Hague Trust Convention
1985 treaty on international trust law / From Wikipedia, the free encyclopedia
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The Hague Convention on the Law Applicable to Trusts and on their Recognition, or Hague Trust Convention is a multilateral treaty developed by the Hague Conference on Private International Law on the Law Applicable to Trusts. It concluded on 1 July 1985, entered into force 1 January 1992, and is as of September 2017 ratified by 14 countries. The Convention uses a harmonised definition of a trust, which is the subject of the convention, and sets conflict rules for resolving problems in the choice of the applicable law. The key provisions of the Convention are:
- each party recognises the existence and validity of trusts. However, the Convention only relates to trusts with a written trust instrument. It would not apply trusts which arise (usually in common law jurisdictions) without a written trust instrument.
- the Convention sets out the characteristics of trusts under the convention.
- the Convention sets out clear rules for determining the governing law of trusts with a cross-border element.
Quick Facts Convention of 1 July 1985 on the Law Applicable to Trusts and on their Recognition, Signed ...
Convention of 1 July 1985 on the Law Applicable to Trusts and on their Recognition | |
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Signed | 1 July 1985 |
Location | Netherlands |
Effective | 1 January 1992 |
Condition | ratification by 3 states |
Parties | 14 |
Depositary | Ministry of Foreign Affairs (Netherlands) |
Languages | French and English |
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