신탁의 종료, 변경, 합병 및 분할

A trust is a legal relationship to exist for a relatively long-time. Therefore, reasonable changes in the trust terms are sometimes needed for the efficient operation of them. This paper introduces the modification and the termination regulations from the Trust Act, drafted and proposed by the Ministry of Justice. In the draft, the regulations are developed and clarfied regarding the modification and the termination of the trust. Combination(merger) and division regulations are newly introduced. As a result, trusts are now subject to easy changes. The main contents of the draft are as follows: (1)A trust may be modified upon consent of the settlor, trustee and all beneficiaries(§ 98 ①). (2)Under the special circumstances unanticipated at the time of the trust creation or settlement, the settlor, the beneficiaries or the trustee may request any change thereto before the court(§ 98 ③). (3)A trustee may combine two or more trusts into a single trust or divide a trust into two or more separate trusts(§§ 89-96). (4)When the cause originally provided in the deed of trust occurrs, or the purpose of the trust is accomplished or becomes unattainable, the trust shall be terminated(§ 97). (5)A trust may be terminated at any time upon the consent by the settlor and all the benificiaries(§ 98 ①). (6) The trust property is transferred to the beneficiary or any of the specified persons due to the termination of trust(§ 100 ①). (7)In case where the trust is terminated, the trustee shall perform the last accounts on the trust affairs, and obtain the approval of the beneficiary, the trust manager or the spicified owner(§ 102 ①).