How to transfer property to a trust in Ukraine?

The property trust management agreement (trust) is concluded in a simple written form, with the exception of the case of transfer of real estate to trust management. Failure to comply with the form of the trust management agreement leads to the recognition of such an agreement as null and void. In this case, the document will not have legal force.

A property management agreement is a special agreement characterized by: a high degree of trust, which is reflected in the subject of the agreement, the granting of excessive powers, as well as increased requirements for the responsibility of the manager and the grounds for terminating the agreement.

A trust agreement usually takes the form of a contract. The contract must clearly state the grounds for transferring ownership to the trustee. This is usually done to preserve or protect assets.

In the main part, the purpose of starting the trust, complete information about the assets involved in this trust and the conditions for its termination are determined.

The trust agreement is drawn up taking into account a number of requirements. The structure of the contract is built according to the following principle:

1. name of the contract;

2. names of the parties;

3. preamble (indicates the purposes of creating a trust, determines which property is transferred to management);

4. confirmation of the fact of transfer of property to management;

5. consent of the trust manager to perform actions related to the management of this trust;

6. trust conditions, including income distribution conditions;

7. declaration of the trust (confirmation of the trust manager to carry out management on the terms prescribed in the agreement);

8. powers and duties of the trustee;

9. powers and duties of the founder;

10. powers and duties of the protector (if available);

11. term of trust;

12. signatures of the parties.

In addition to the listed sections, the trust agreement may include other provisions, if there is a need for them.