Considerations on trusts and fiducias with special regard upon the liability of trustees and fiduciaries
Considerations on trusts and fiducias with special regard upon the liability of trustees and fiduciaries

Summary/Abstract: The fiduciary institution in European continental law represents a variety of the fiduciary institution from the Anglo Saxon law. In both cases, a person named the settlor transfers to a fiduciary (or trustee) a series of assets, rights or guarantees present or future for him to manage and transfer after a determined period of time to another person. Taking into account that over time the trustee institution has been more frequently used in common law than was used the fiduciary institution in our continental law (the regulation of fiducia was introduced in Romania by the new Civil Code in 2011) and considering that there are laws that recognize and apply both institutions (like the Suisse law), we must ask ourselves what is the extent of the personal liability of these persons that have a granted power to manage and handle a patrimony that doesn't belong to them and that was entrusted to them.

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