What is the name of the person who carries out trust management of property? Real estate trust management agreement

An agreement under which one party (the management founder) transfers property to the other party (the trustee for a certain period of time) trust management.and the other party undertakes to manage this property in the interests of the founder of the management or the person indicated by him (beneficiary) (Article 1012
Civil Code of the Russian Federation). D.d.u.i. should not be identified with the transfer of property into trust.

Features of D.d.u.i. the following:
a) the founder of trust management can only be the owner of the property; b) the agreement establishes an obligatory relationship between the founder of trust management and the trustee, without transferring ownership rights to him: c) the essential condition of the agreement is the designated period, since the agreement gives rise to ongoing legal relations: d) unlike contracts of commission and commission, the trustee has the right not to make only legal, but also actual actions in the interests of the owner or beneficiary;

E) the trustee acts on his own behalf, but must indicate that he is acting as a trustee - if he does not make such a notification, he will be liable for obligations with his personal property, and not with the property transferred to him for trust management; in written documents after the name designation there must be the note “D.U.”

The testator has the right to appoint an executor of the will ("executor"), whose functions include protecting the inherited property and managing it until it is transferred to the heirs. The immovable and valuable movable property of the ward may be according to D.d.u.i. transferred to a person who is not a guardian or trustee, and in relation to the remaining property the latter retain their powers. The guardianship and trusteeship authority concludes a D.d.u., based on the act of establishing guardianship or trusteeship. In this case, the will of the property owner is replaced by the will of the governing body.

D.d.u.i. took shape in the legislation of the Russian Federation only with the adoption in 1995 of the second part of the Civil Code of the Russian Federation, although the possibility of concluding such agreements was already provided for in the first part (clause 4 of article 209 of the Civil Code of the Russian Federation).

The founder of trust management can be either a citizen or a legal entity. Legal entities that own property under the right of economic management or operational management are deprived of the right to establish trust management. Property management may require transactions of a business nature. In connection with this, if it is necessary to manage the inherited property while carrying out business activities, any subject of civil law cannot become the executor of the will, but only an entrepreneur or a commercial organization. As a beneficiary? Any person can be appointed, both physical and legal, except for the trustee. The beneficiary does not participate. E.D.u.i. as a party (see Agreement, in favor of a third party).

D.d.u.i. lies in interest? the owner of the property or the beneficiary indicated by the owner. The property is transferred to the trustee on a separate balance sheet. The latter bears civil liability to the founder of the management.

The object of the agreement can be any property (with some exceptions) owned by the founder, including real estate, securities, rights certified by uncertificated securities, exclusive rights protected by both copyright and patent law. However, in relation to movable property, trust management can be established provided that it is isolated and accounted for separately, since upon expiration of the contract it must be returned to the trustee. As a rule, trust management is established for fairly complex and valuable objects, such as an enterprise, residential building, hotel, etc. Objects encumbered with collateral may be transferred to trust management. However, the trustee must be warned that the property transferred to him is encumbered. Otherwise, he has the right to demand in court the termination of the contract and payment of the remuneration due to him for the year.

Can not be an independent object trust management of funds, except for cases provided for by law. Thus, a credit institution that, on the basis of a license from the Central Bank, has the right to carry out banking operations, can enter into agreements for the trust management of funds and other property of individuals and legal entities. Other organizations carry out trust management of funds of individuals and legal entities only if they have a license issued in accordance with the procedure established by the Federal Law. Cash - things defined generic characteristics, and when transmitting them
in trust management, the ownership of them passes to the trustee, and the founder is given the right to demand from the counterparty of the organization the effective management of the corresponding amount of money. When transferring securities into trust management, the founder of the management does not lose ownership rights to them. The rights of the trustee in relation to securities may be limited by special regulations. Such a restriction occurs, for example, when transferring federally owned shares into trust through a competition. According to the Decree of the President of the Russian Federation of December 9, 1996 No. 1660 “On the transfer to trust management of federally owned shares joint stock companies created during the privatization process" the trustee does not have the right to dispose of shares (donate, sell, pledge, etc.), and his vote on the most important issues activities of the JSC must be agreed in writing with federal body executive power, authorized by the Government of the Russian Federation. When transferring securities to trust management, their association is allowed, even if they were transferred to the management of different persons.

In D.d.u.i. The following must be indicated: the composition of the property transferred to trust management; the name of the legal entity or the name of the citizen in whose interests the property is managed (the founder of the management or the beneficiary);
the amount and form of remuneration to the manager, if the payment of remuneration is provided for in the contract; the duration of the contract. Trust management is assumed to be free of charge, unless otherwise provided by agreement or law. Remuneration to the trustee, as well as compensation for expenses incurred by him related to management, is paid from the income from the property transferred to management.

The contract cannot be concluded for a period of more than 5 years. however, if after the expiration of the period stipulated by the contract. neither party declares its termination, it is considered extended for the same period and on the same conditions that were originally established. For certain types of property transferred into trust management, the law may establish other deadlines.

D.d.u.i. must be concluded in writing. Failure to comply with this legal requirement does not entail the invalidity of the contract, but in the event of a dispute, it deprives the parties of the right to refer to witness testimony in confirmation of the conclusion of the contract and its terms. Only a real estate trust management agreement is subject to state registration in the same way as a real estate purchase and sale agreement. The transfer of property into trust management is formalized in the same manner as the transfer of ownership of this property.

The transferred property must be individualized and clearly distinguished from other property of the management founder and the property of the trustee. During the period of validity of the contract, the specified property cannot be the object of collection of debts of the founder of the management, with the exception of two cases: declaring him bankrupt. when this property is included in the bankruptcy estate; transfer of pledged property to management.

In relations between the parties D.d.u.i. increased liability of the manager is provided for the fact that as a result of the lack of due care for the interests of the founder of the management or the beneficiary, they suffered losses. The beneficiary is compensated for lost profits, the founder of the management is compensated for losses caused by loss or damage to property, taking into account its natural wear and tear, as well as lost profits. For these purposes, the agreement may provide for the provision of a security by the manager to the founder of the management.

D.d.u.i. must clearly define the limits of the trustee's powers. The consequences of going beyond the powers defined by the contract are borne by the manager. If losses occur, he is obliged to cover them from his property. At the same time, the law provides the trustee with rights that ensure the protection of the property transferred to him. During the period of validity of the contract, he is endowed with the rights of the title owner and can demand the elimination of any violation of his rights on an equal basis with the owner of the property.

The trustee does not have the right, at his own discretion, to transfer management of the property to another person. However, he can entrust an attorney to perform the actions necessary to manage the property. The trustee gives such an instruction in cases provided for by the D.u.i., either with the written permission of the founder of the management, or when he is forced to do so due to circumstances to ensure the interests of the founder of the management or beneficiary and is not able to receive instructions from the founder management within a reasonable time. The attorney does not replace him in the trust management agreement, and the manager is responsible for the actions of the attorney as if they were his own.

The essential responsibility of the trustee is to submit reports on his activities to the founder of the management and the beneficiary. The timing and procedure for submitting reports must be defined in the contract. Payment of remuneration and reimbursement of necessary expenses to the trustee may be made dependent on the timing of the submission and consideration of reports.

If time is limited or there is a lack of knowledge and experience, the management of property assets can be delegated to a third party. Such a transaction is formalized by a trust management agreement. The essence of the process is the transfer of one’s property for use, limited in time, to a trusted person, so that this person is engaged in the effective operation of the assets to increase the level of profit of the owner of the objects used.

The essence of trust management

Measures to provide assets for trust management are determined by civil law. The procedure and rules for registering the procedure for transferring property are prescribed in Chapter. 53 Civil Code of the Russian Federation. The definition of the process of transferring objects or resources to another person under a trust management agreement is given in Art. 1012 of the Civil Code of the Russian Federation. The legislator indicates that one party grants the right to the other party to the transaction to dispose of property on a temporary basis. The main goal of this format for disposing of property assets is to increase the capital of the asset owner.

IMPORTANT! The trustee does not receive ownership of the property after the conclusion of the transaction; the agreement provides only for a temporary disposal to increase the profit of the asset owner.

The managing person can enter into transactions with the property entrusted to him. He draws up all contractual relations on his own behalf, but the documentation must indicate the status of a trustee and not a full owner. If the appropriate notes are not made in the documentation, then the manager will be responsible for the results of the transaction with his material resources and property (Article 1012, paragraph 3 of the Civil Code of the Russian Federation). According to the standards of paragraph 1 of Art. 1013 of the Civil Code of the Russian Federation, the object of a trust order may be:

• exclusive rights;
• sets of property assets;
• selected real estate assets;
• shares, bonds and other types of securities.

Rules for the transfer of property under a trust management agreement

To provide property to third parties for trust management, a number of restrictive measures are provided:

• funds cannot be entrusted to the manager;
• Property operated under the terms of operational management is prohibited from being transferred to managers (clause 3 of Article 1013 of the Civil Code).

A legal entity or individual entrepreneur can act as a trustee (clause 1 of Article 1015 of the Civil Code of the Russian Federation). State bodies and local government structures are not allowed to manage other people's property. The procedure for operating property assets is specified in an agreement between the owner of the assets and the manager. The transaction is formalized by a written agreement. Contractual documentation relating to real estate management must undergo state registration.

NOTE! The agreement for trust disposal and management of real estate is considered valid and entered into force from the moment the manager receives the property.

The following information must be indicated in the contract documentation (Article 1016 of the Civil Code of the Russian Federation):

• composition of the property to be transferred to the manager;
• designation of the person who will act as a trustee;
• the form of remuneration for the manager’s work and the amount of payment to him (if the contract involves the introduction of a payment system for such services);
• expiration date of the agreement (maximum period of delegation of powers for property management is 5 years).

The absence of even one of the listed conditions creates preconditions for recognizing the contract as invalid. The rules for the transfer of entrusted assets assume that these objects will be separated from general complex owner's property. The property entrusted to the manager must be accounted for on a separately allocated balance sheet, which is compiled by the party carrying out actions to dispose of the assets.

Taxation

The nuances of accounting for trust management are revealed in clause 1 of Art. 1018 of the Civil Code of the Russian Federation and in Order of the Ministry of Finance of November 28, 2001 No. 97n. The provisions of these legal acts regulate not only the transfer of powers to dispose of property, but also the emergence of an obligation for the manager to keep separate records of the objects entrusted to him. For the appointed manager, the situation is complicated in that he needs to maintain basic accounting of his activities and separate accounting of transactions with the property entrusted to him.

To reflect in accounting the fact of receiving one or more objects for trust management, the manager uses account 79.

REMEMBER! When organizing separate accounting for assets in trust management, the manager must be guided by the provisions of the accounting policy of the property owner.

Order No. 97n obliges managers to draw up financial statements and generate a manager’s report to familiarize yourself with the owner’s data contained therein. From the reporting documentation, the property owner must see the amount of assets and liabilities, the level of income and expenses associated with the disposal of assets.

To implement trust management activities, the legislator established restrictions on the possibility of applying the following tax regimes:

• UTII;
• patent system.

The norm dictating the impossibility of a manager switching to these special modes comes from the provisions of the Tax Code in clause 2.1 of Art. 346.26 and paragraph 6 of Art. 346.43.

Payment of VAT

Activities related to the disposal of property under a trust management agreement impose on the manager an obligation to calculate and pay. The manager must issue invoices for transactions involving the sale of goods or services, making appropriate entries in the purchase and sales ledger. VAT can be deducted by the manager if counterparties have issued invoices in his name.

Clause 5 Art. 174.1 of the Tax Code obliges managers under each of their contracts for the trust disposal of property at the end of the reporting period to prepare and submit VAT returns to the tax authorities. The tax authority for filing the declaration is selected based on the place of registration of the manager. For transactions with property held in trust, the owner of the assets does not have obligations to pay and report VAT.

Property tax

Property tax in cases of trust management by a person authorized to dispose of individual assets is not charged or paid. The obligation to make payments to the budget regarding property tax remains with the owner of the assets (clause 1 of Article 378 of the Tax Code).

Income tax

To ensure correctness, the manager organizes the recording of income and expenses in accounting for activities related to the management of other people’s property, separately from his own accounting activities (Article 332 of the Tax Code of the Russian Federation). Tax calculation is carried out only in one way - the accrual method. The procedure for calculating the amount of tax and its payment depends on the terms of the agreement between the asset owner and the manager:

1. If the owner acts as the beneficiary, the manager regularly submits reports to him with information on the amounts of income and expenses for the objects. The owner takes this data into account as part of non-operating items of profitability and costs.
2. If the owner is not identified as the beneficiary under the terms of the agreement, then the expenditure and income bases for the objects are used to determine the tax base for taxation by the beneficiary.

IT IS IMPORTANT! The costs of paying remuneration to the manager should always remain an expense item for the owner of the assets; their amount does not participate in the calculation of income tax for the beneficiary if he is another person.

Land tax

The manager does not have any obligation to pay land tax for the plots transferred to his disposal under the trust management agreement. The justification for this fact follows from paragraph 1 of Art. 388 of the Tax Code of the Russian Federation, which establishes a list of payers of this type of tax. Payers are persons who have the right:

• property;
• unlimited use;
• lifelong inheritable ownership.

Controversial issues

One of the reasons that may lead to the recognition of the procedure for transferring property into trust as illegal is the incorrect execution of contractual relations between the owner of the asset and the manager. The main requirements for the validity of a transaction:

1. The transaction must be supported by a documented written form of the contract.
2. The agreement must be signed by both parties.
3. If one of the participants used a facsimile, then the document will be recognized as legal only if there is a preliminary agreement between the participants in the transfer of property to trust management on the possibility of using a facsimile. Such an agreement is signed by the parties without using a facsimile.

Disputes arise in situations where parties to a transaction indicate consent to the use of facsimiles in the trust agreement itself. In this case, the contract will be declared invalid in court.

Other controversial issues are recognized:

• determining the terms of reference when disposing of securities - the owner has the right to determine investment objects and develop a strategy, although decisions on how to manage assets must be made by the manager;
• availability in civil law when denoting the responsibility of a manager, the term “due diligence” - the manager can be held accountable for the lack of such diligence in relation to the assets entrusted to him; the legislator does not provide a decoding of the content of this concept, therefore, discrepancies regularly arise regarding the signs of the manager’s guilt.

1. Trust management as an institution of the law of obligations

In cases where trust management relations arise not by virtue of an agreement, but on other grounds directly provided for by law, a citizen who is not a citizen may also act as a trustee. individual entrepreneur(for example, a guardian of a minor or an executor appointed by the decedent), or a non-profit organization (for example, a foundation), other than an institution. The latter, like a unitary enterprise, is not allowed to act as a trustee, primarily due to the extremely limited nature of the rights to the owner’s property (and the associated restrictions on his property liability).

In many cases, trust management relationships involve a beneficiary (beneficiary), who does not become a party to the agreement. From this point of view, a trust management agreement is a typical example of an agreement concluded in favor of a third party (clause 1 of Article 430 of the Civil Code). Therefore, the beneficiary status is determined general provisions about this type of contract. In particular, the beneficiary has the right to demand from the manager performance in his favor, and his consent may be required for early changes or termination of the contract.

The founder himself can act as a beneficiary, establishing trust management in his favor. Under no circumstances can the trustee become a beneficiary (clause 3 of Article 1015 of the Civil Code), since this contradicts the essence of the agreement in question.

3. Objects of trust management

The object of trust management can be either the entire property of the founder or a certain part of it (separate things or rights). But not every property can act in this capacity. In accordance with paragraph 1 of Art. 1013 of the Civil Code, objects of trust management may be:

• individual real estate objects, including enterprises and other property complexes;
• securities;
• rights certified by uncertificated securities;
• exclusive rights;
• other property (movable things and rights of claim or use), if it is possible to separate it and record it on a separate balance sheet or bank account (clause 1 of Article 1018 of the Civil Code).

Thus, in all of the above cases we are talking not just about individually defined, but about legally separate property. The fact is that the very essence of trust management does not allow the possibility of mixing the property under management with the property of the manager himself. Otherwise, various misunderstandings and even abuses would become inevitable: not only income from the use of such property would be mixed up, but also the rights and obligations arising from this, and the property of the founder under management could become the object of recovery by creditors for the personal debts of the manager.

Consequently, the transfer of only movable things into trust management is excluded, since it is impossible to isolate them in the legal sense (by opening a separate balance sheet). Moreover, legal actions with movable things in many cases represent transactions for their alienation, which excludes their return to the original owner. It is therefore impossible to make, for example, an independent object of trust management, gems and precious metals. Another property complex, which, of course, may include movable things. In this case, the object of the contract may even be property that does not exist at the time of its conclusion, for example, products produced in the future, fruits and income from a property complex transferred to trust management.

The exception is securities, which, even as movable things, always have characteristics that legally individualize them. But even when homogeneous securities belonging to different founders are transferred into trust management, in which the combination of these things is permitted (Part 1 of Article 1025 of the Civil Code), they must still be separated from the property of the manager, including from similar securities owned by him.

In this case, the object of trust management is mainly equity securities - shares and bonds, since most other types of securities, for example title to goods, are used in circulation on the basis of other transactions. Many types of securities, in particular any bills and checks, are simply not capable of serving as the object of the agreement in question. Therefore, the most common object of management is corporate securities - shares, especially voting ones, i.e. including the powers to manage the affairs of the issuing company that issued them.

Shares and bonds, as is known, are issued not only in the form of certificated securities (things), but also much more often in “book-entry form”. Therefore, in most cases, we are essentially talking about trust management of property rights. Obligatory, corporate and exclusive property rights do not require additional special isolation and can be transferred to trust management, unless, of course, this does not contradict their essence (it is obvious, for example, the impossibility of transferring to trust management the powers of a buyer or seller, attorney or agent, or the rights of a participant general partnership, etc.).

Cash cannot become an independent object of trust management (clause 2 of Article 1013 of the Civil Code). They usually do not relate to individually defined things, and when they are used in property circulation, the ownership of the corresponding banknotes is inevitably lost and they cannot be returned to the owner at the end of the contract (especially since the latter is usually not interested in the return of the same banknotes, but in receiving greater than the original denomination).

By this obvious reason The activities of management companies of mutual investment funds that “invest” the funds of their investors in securities, real estate, bank deposits and other property cannot be recognized as a type of trust management. They do not manage them on the basis of a trust management agreement, but alienate them on the basis of purchase and sale agreements, loans, bank deposits, etc. The above also applies to “trust management of money,” including cash, declared “means of investing in securities” or included in the “general funds of banking management”. The use of money in property circulation for the purpose of increasing it is carried out in other civil legal forms, primarily loan and credit agreements, bank deposits, but not trust management.

At the same time, under certain conditions, non-cash funds listed in a bank account (and thereby legally separate), which, as is known, represent the client’s right of obligation to the bank, can be transferred into trust management. In this sense, we can talk about trust management of a bank account or bank deposit. In other words, we are also talking about trust management of property rights.

Since unitary enterprises and institutions cannot be participants in trust management relations, the owner’s property assigned to them by the right of economic management or operational management cannot become the object of trust management. Credit organizations are deprived of the right to transfer their property for trust management to other credit organizations.

At the same time, property that is pledged (for example, real estate encumbered with a mortgage) can be transferred to trust management, since the mortgagor remains its owner and retains the ability to dispose of it. Moreover, involving a professional manager in the management of such property can significantly increase the efficiency of its use and help the pledgor (the management founder) fulfill his obligations to the secured creditor.

But the trustee must be warned by the founder about encumbering the property with a pledge, since such property may become the object of recovery by the pledgee and therefore be subject to withdrawal from trust management (clause 2 of Article 1019 of the Civil Code). He himself can find out about this by checking legal regime property transferred to management. If the manager did not know and should not have known about such an encumbrance on the property, he has the right to terminate the trust management agreement in court and collect an annual fee from the founder.

Contents and execution of the property trust management agreement

1. Concept and content of a trust management agreement

Trust management of securities

1. Agreement on trust management of issue-grade securities

In the role of founder of management on behalf of Russian Federation The Ministry of State Property of the Russian Federation (formerly the State Property Committee) acts, and the trustee of such shares is determined based on the results of a closed competition (tender) held by the Federal Government. Participants in this competition (and, accordingly, trustees) can only become commercial organizations that have net assets (or own funds) in the amount of at least 20 percent of the price of shares transferred to trust management, as well as a license to carry out securities management activities. The founder of the management in this situation always simultaneously acts as a beneficiary.

A draft trust management agreement for the specified shares is being developed by a commission to hold a competition for the right to conclude a trust management agreement for them. Mandatory parts of the agreement are the assignment for trust management (which establishes the tasks of the trustee to increase the value of the shares transferred to him for management and liquidate the company’s debt for mandatory payments) and the program of activities of the trustee, which are approved by the said commission. The agreement is concluded with the winner of the competition within a month after it is held and is considered concluded from the moment it is signed (and not from the moment the shares are transferred to management). Within 10 days from the date of signing the agreement, the founder ensures that an entry on the transfer of shares into trust management is made in the register of shareholders.

The founder transfers shares into trust management free of pledges and other encumbrances, and also undertakes not to alienate them by any means during the term of the agreement. For his part, the trustee does not have the right to dispose of the shares transferred to him for management and, in particular, is deprived of the opportunity to pledge them, otherwise encumber or alienate them. Voting by the manager on the shares transferred to him must be agreed in writing with the founder, if we are talking about making changes and additions to the company’s charter, including cases of reorganization or liquidation of the company and changing the size of its authorized capital, carrying out major transactions on his behalf, issuing securities and approving annual reports.

The term of trust management of the named shares cannot exceed 3 years. Required condition management is the provision by the manager of security agreed with the founder of the management, in the form of either an irrevocable bank guarantee from the bank or a pledge having high degree liquidity of the manager's own real estate or securities. The specific method and amount of security (which in any case cannot be less than the value of the shares transferred for management) is established by the competition commission.

The manager is obliged to provide the founder with a report on his activities twice a year, and the latter has the right to organize a review of the report by an independent auditor (and accept the report only after this review). The manager must also provide the founder, upon his request, Required documents and information about his activities, and the founder has the right to control the fulfillment by the manager of all his obligations under the contract.

The manager's remuneration is paid once, no later than 3 months after the end of the contract. The amount of remuneration to the manager should not exceed the limit established by the Federal Government. The competition commission determines the maximum amount of compensation for necessary expenses incurred by the manager. Remuneration to the manager and reimbursement of expenses incurred by him may be paid exclusively at the expense and within the limits of dividends on the shares under management.

The founder has the right to unilaterally refuse the agreement by notifying the manager at least 10 days before termination of the agreement.

Trust management is the activity of managing assets. They are provided by the investor to a professional market participant. The main goal is to extract maximum profit at a certain risk. Let us consider further what the essence of trust management is.

Assets

These include most of the objects listed in the Civil Code. Art. 128 contains a list of such assets. Objects of trust management are primarily finances and material assets. The investor can also provide shares, real estate, and so on. Assets also include property and exclusive rights (to works of art, literature, etc.). This category does not include

Features of provision

Trust management is a transaction involving legal provision asset. If it is, for example, an enterprise, then maintaining it as an independent legal entity is practically impossible. This is due to the fact that the trust management of an LLC or other organization is reflected by the responsible person on a separate balance sheet. Records are kept of material assets. In this case, a separate bank account is opened to perform settlement operations. Providing trust management of intellectual property, exclusive rights to Not commercial organizations should be distinguished from their transfer under a concession agreement. In the latter case, the transaction is made for the purpose of the investor’s independent entrepreneurial activity.

Isolation of objects

The legislation, except in exceptional cases, does not provide for a direct prohibition on the transfer of things characterized by generic characteristics. Meanwhile, the structure of the agreement, the peculiarities of interaction between the subjects, and the list of assets indicate that the transaction can only be concluded in relation to individually defined items. Material assets must be separated from other goods belonging to the owner and manager. In this regard, even objects that are determined by generic characteristics (for example, sets of linen in the inherited mass) to a certain extent acquire individual definition.

Financial organizations

In accordance with general rule, trust management of funds is not permitted. However, the law provides for exceptions. So, according to Art. 5 of the Federal Law “On Banks”, a credit structure - a legal entity that has a license to conduct relevant activities issued by the Central Bank - can conduct settlement and other operations, enter into an agreement for trust management of the client’s property and finances. The latter can be either an organization or a citizen. Structures that are not credit can also receive the right of trust management. To carry out the relevant activities, they must have a license, which is granted in accordance with Art. 7 of the Law of February 3, 1996

Municipal and federal property

The transfer of property into trust management has its own specifics, which must be taken into account when concluding transactions. So, for example, in order to carry out certain operations, a professional market participant may be provided with both private and public or However, material assets that were previously provided to a unitary enterprise or institution must lose their legal status before they are transferred to trust management . This is due to the fact that the benefits have already been provided to the subject and are used in a limited manner. Providing material assets to a professional market participant would make it impossible to implement unitary enterprise, municipal or government agency their legal capabilities.

Subjects

The participants in the transaction under consideration may be:

1. Founder of trust management.
2. Beneficiary.
3. Manager.

The first two participants may coincide (which most often happens in practice). The manager acts as an independent individual and does not coincide with either the beneficiary or the founder, since their functions are completely incompatible. If the activity is carried out on the grounds established by law, it may be an individual who does not conduct business activities, or a non-profit structure (other than an institution).

Nuances

Trust management is a voluntary transaction. The appointment of an entity responsible for the disposal of assets is carried out only with its consent. A model of trust management may provide for both a paid and gratuitous basis of relations. The decision to provide material assets is made by their owner. It is he who acts as an investor and, accordingly, the founder of the management.

Providing capital

It involves not only their preservation, but also their increase. Finance is provided for a specific period. For operations with financial assets, the manager, as a rule, receives remuneration. It is worth noting that until recently such transactions were concluded only by wealthy people. Today there are organizations that accept amounts starting from $1 million for trust management. However, at present there are quite a lot of companies to which smaller amounts of capital can be transferred. Basically, the minimum amount is 200 thousand rubles. If an investor has, for example, 50 thousand, then he can still transfer it to management. Such small amounts are combined into pools. The manager carries out the same operations with them as with the funds of one investor. But in the latter case, the individual wishes of the client are taken into account. The legislation also allows for trust management of shares in capital.

Deadlines

As a rule, a property trust management agreement is concluded for a year. According to experts, investing for a shorter period is not advisable. Meanwhile, today there are companies that can accept assets for 6 months. The management agreement usually provides for the possibility of withdrawing material assets before the expiration of the agreed period, as well as the automatic prolongation (extension) of the agreement.

Advantages and disadvantages

In comparison with a deposit in a bank, trust management is considered more profitable. However, there is always a risk of not making a profit at all. Neither a private manager nor a company can guarantee a fixed income. In practice, it may happen that the investor not only does not make money, but also loses his capital. At the same time, he will have to pay the manager remuneration under the contract.

Remote control and mutual funds

Trust management has a lot in common with Experts recommend studying these types of activities in more detail. In both cases, the manager’s tasks include preserving and increasing the investor’s capital. However, the services of companies have different legal regulations. In trust management, the use of options, futures and other derivatives that are not available to mutual funds is allowed. If the market falls, a professional participant can sell financial instruments. But at the same time he is limited in his actions. For example, a manager cannot play on a market decline by entering into “short trades.” This is due to the fact that he is prohibited from borrowing shares and taking loans. Legislation, by granting companies the right to trust property management, ensures the protection of private investors. One of the mechanisms is a ban on receiving any loans.

Efficiency and individual approach

An undoubted advantage of trust management is the ability to withdraw funds on the day a request is received from the client. With mutual funds, such an operation is carried out within three days. Moreover, during this period the market condition may change significantly, both negatively and negatively. positive side. In trust management, a professional participant works personally with the client’s financial assets. Even if they are combined into pools, the number of investors in it is significantly less than in mutual funds.

Trust management of securities

It involves ensuring high profitability of investments. The broker acts as a guarantor of the safety of the client’s assets. Financial resources The investor is placed in the clearing house, and the securities are placed in the stock exchange depository. The broker's duties include keeping records of the movement of client's money and shares, calculating and withholding income taxes. When choosing a company, it is necessary to take into account the duration of its activity in the market, as well as the volume customer base. Accordingly, the larger and longer the broker operates, the higher its reliability.

Important point

When transferring assets to a trustee, the client seeks to receive guarantees of the profitability of his investment. However, in accordance with the Federal Law regulating the turnover of shares, a professional market participant is prohibited from giving such guarantees. At the same time, the rules allow the trustee to publish historical returns received by him in previous periods.

Real estate as an asset

The essence of trust management in this case comes down to the fact that the owner, who, for example, wants to rent out a room or structure, shifts all concerns to the realtor. When concluding a regular agreement, the agency acts as an intermediary. His task is only to find an employer. Trust management involves a significant expansion of the functions of a realtor. Their list will depend on the needs and capabilities of the owner. The agency not only looks for a tenant, but also develops and signs an agreement with him, receives payment for the use of the facility, monitors the timely payment of bills, the fulfillment of obligations by the tenant, and so on.

Conclusion

Trust management today is included in the list of services provided by many banking organizations. As a rule, such tasks are undertaken by large financial companies. At the same time, according to a number of experts, it is more advisable to trust the management of your assets to banks. This is due to the low cost of services compared to brokerage organizations. The fact is that the banking structure does not need to recruit additional staff employees who would carry out trust management. It is enough to add these functions to the responsibilities of existing specialists. Trust management is very popular today. This is a passive way to generate income. However, it requires certain financial investments. Companies providing such services offer various options increasing investor funds. Undoubtedly, in every transaction there is a certain risk, but the income can be quite high. Trust management is a convenient way to increase your capital. At the same time, it is not at all necessary for an investor to understand all the intricacies of this activity.