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The Economic Structure of TrustsTowards a Property-based Approach$
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M. W. Lau

Print publication date: 2011

Print ISBN-13: 9780199602407

Published to Oxford Scholarship Online: May 2011

DOI: 10.1093/acprof:oso/9780199602407.001.0001

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The Relationship Between Property and Trusts

(p.181) Conclusion
The Economic Structure of Trusts

M. W. Lau

Oxford University Press

This final chapter asks: If the purpose of trusts is to extend the function of property, what then is the function of property in trusts? The short and simple answer is that property enables trusts to exist in the first place; no property, no trusts. But there is a lot more to it than the mandatory rule requiring trusts to have trust properties. This concluding chapter discusses this.

Keywords:   trusts, function of property, mandatory rule, modern trust law, trust asset

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