- Hague Convention on the Law Applicable to Trusts and on their Recognition
The Hague Convention of the Law Applicable to Trusts and on their Recognition was signed on
1 July, 1985but came into force on 1 January, 1992.
Summary of main provisions
The Convention seeks to harmonise the Private International laws of its signatories relating to trusts. The key provisions of the Convention are:
* each signatory recognises the existence and validity of trusts. However, the Convention only relates to trusts with a written trust instrument. It would not apply trusts which arise (usually in
common lawjurisdictions) without a written trust instrument.
* the Convention sets out the characteristics of a trust (even jurisdictions with considerable legal history relating to trusts find this difficult)
* the Convention sets out clear rules for determining the governing law of trusts with a cross border element.
* [http://www.hcch.net/index_en.php?act=conventions.text&cid=59 Text of the Convention, Hague Conference website]
* [http://www.hcch.net/index_en.php?act=conventions.status&cid=59 Status of the Convention in relevant jurisdictions]
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