Property management agreement and property trust management agreement: relationship of concepts and legal nature
DOI:
https://doi.org/10.35774/app2024.01.219Keywords:
property management, property trust management, property management agreement, property management trust agreement, trust property instituteAbstract
The relationship between contractual constructions of property management and trust management has been studied. It was found that the relationship between property management and trust management is dynamic and constantly transforming. This necessitates changes and new approaches to the legal regulation of the relevant sphere of contractual relations.
The essence of the «property management» category was analyzed and it was found that the normative provisions of the Central Committee of Ukraine and economic legislation put different meanings into this concept.
The article analyzes the main characteristic features of the property management agreement and the trust agreement of property management, their relationship.
The contract of trust management of property has not received proper consolidation in the normative provisions of civil legislation, however, it is widely used in modern domestic contractual practice.
It was found that characterizing the concepts of property management and trust management and outlining their contractual relationship is extremely important to ensure the principle of legal certainty. It has been established that a promising direction for improving civil legislation is the replacement of the term «property management agreement» with «property management trust agreement».
It is proposed to replace the terminology regarding property management and trust management contracts. Changing the name of the property management contract to the trust property management contract will inevitably modernize such an institution as «the right of trust property». The relationship between the property management trust agreement and the institution of trust property should become another promising direction for scientific research.
References
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