신탁재산의 공시에 관한 연구

Section 3 of the Korean Trust Act provides for the regime for disclosure of the trust and its preferential effect against third parties. The way for the disclosure of the trust in respect of ‘registrable properties’ is stipulated in the subsection 1 as recording the trust in relevant registers. The way for the trust disclosure regarding ‘negotiable instruments’ is in the subsection 2 as trust marking on their certificates, and in case of shares and bonds, recording holders' names in members' or bondholders' register is additionally required. But the way for the disclosure of the trust for the ‘non-registrable properties’ is not stipulated expressly. This article compares the present disclosure regime with the regime proposed in the Korean Trust Bill, and investigates the validity of the proposed Bill. The article argues that the current disclosure regime for ‘registrable properties’ is in principle working, but pointing out the problem caused at a time when relevant register is not yet compiled and thus the trust cannot be recorded. The Bill proposes that even if ‘registrable properties’ are in issue, they are to be treated as if non-registrable while the relevant register is not yet prepared. On the other hand, this Bill proposes that ‘non-registrable trust properties’ such as tangible goods should be claimed against third parties in the way of marking trust assets including the method of separate administration. The Bill also argues that the present regime for the ‘negotiable instrument’ is too burdensome for the trust, and thus the instrument is to be treated as non-registrable properties. This study support the position proposed in the Government Bill in general.