Legal Design of Economic Relations for Property Management
Abstract
The author considers theoretical and practical aspects of legal registration of economic relations arising when the owner transfers property to professional management. The prerequisites for creating a special legal regulation of these relations are analyzed. Common features inherent in different types of private property management are revealed, principles of professional management are formulated, its legal forms are defined, and trends in the development of Russian legislation in this area are outlined. The following legal regimes for transferring property to professional management are proposed: trust management of property under the law of obligations (management of someone else's) and management of property through specially created legal entities — personal funds, with the latter being granted the right of ownership of the transferred property (management of one's own). The legal nature of the right of ownership of a personal fund as a property right of a legal entity limited by the will of the founder and the purposes of creating the fund is substantiated. The relationship between the categories of “management” and “ownership” of a personal fund is determined through explaining management as an economic relationship, and the right of ownership as a legal category. The conclusion is made about the use of the term “property management” in relation to a personal fund as a legal and technical device expressing the economic concept of “management with property”. The legal form of this management is the right of ownership. A general description of individual legal forms of professional management of private property is given: trust management, including the property of mutual investment funds and international funds, as well as management of the property of a personal fund. Conclusions are formulated and ways to solve the identified problems are proposed. In this regard, the object of the study was the relationship on the transfer of property by the owner to professional management. The purpose of the article is to form scientifically based approaches that contribute to the development of legal regulation of economic relations in the professional management of private property. The works of Russian and foreign legal scholars, legislation on property management passed in various legal systems are studied. Research methods of the author are: analysis, synthesis, legal modeling, comparative law, contributing to formulation of new theoretical provisions for improving legal framework for professional management of private property.
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