토지신탁의 구조와 위험분석에 관한 연구

Trustees or real estate trust companies insist on the independence of trust asset, but have difficulty securing stability of real estate land (development) trust operating because there is no legal identity. Accordingly, this study is focusing on the following problems in operating trusts through some precedents and related cases: a) Application of the tax law in the operating process of real estate land (development) trust b) Unlimited liability for the delivery of the land trust operating cost from a real estate trust company c) Liability for the mortgage of sale, even after the termination of real estate land (development) trust d) Unlimited liability for a third creditor of real estate trust company. To dissolve the problems about real estate land (development) trusts, this study suggests “a real estate investment trust system of limited liability type” and “a subsidiary real estate land development trust company” or an investment company under the capital market law. There is a need of revising the tax law in the matter of the application of the law overall, through the review of the principles of real taxation as regular rules of taxation, because the tax law will dissolve only the problem of applying to the tax in name under the value-added tax law.