Law of 27 July 2003
– giving approval of the Hague Convention of 1st July 1985 regarding the law applicable to trust and its recognition;
– giving new regulation on the fiduciary contracts, and
– modifying the law of 25 September 1905 on the registration of the real rights of immovable
[English Translation of the Content and Articles 5, 8 and 11]
On the law applicable to trust and its recognition
Article 1 Approval of the Hague Convention of 1st July 1985
Article 2 General situation of trustee
Article 3 Declaration and reservations
On the fiduciary contracts
Article 4 Field of application
Article 5 Definition
A fiduciary contract in the meaning of this title is a contract by which a person, the trustor, agrees with another person, the fiduciary, that the latter shall under the obligations determined by the parties become the owner of the property forming a fiduciary asset.
Article 6 Autonomy of the patrimony
Article 7 Relationship between trustor and trustee
Article 8 Trust established for the purpose of guarantee
(1) The fiduciary contract may be established to guarantee claims arisen or to arise. The parties may agree that the fiduciary property will develop in accordance with the guaranteed commitments or other factors of their choice.
(2) [not translated]
Article 9 Proof and opposability to third parties
Supplementary, fiscal and abrogating provisions
Article 10 Modification of the law of 25 September 1905 on the registration of the real rights of immovable
Article 11 Registration
In the whole public register on which the status of the owner is registered, for what reason or in what occasion it may be, the fiduciary and the trustee must request that their status should be mentioned after the indication of that of the owner.
Article 12 Registration and inheritance tax
Article 13 Abrogation of the Regulation of Grand Duchy of 19 July 1983
Article 14 Short title of the law
Article 15 Transitory provisions
*This is just an unofficial translation of a part of the law. For an original, complete text, visit the government’s site.
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