The significance of the location of trust fund accounts and assets is specified in the International Private Law Act. Specifically, the trust fund is primarily governed by the law of the Czech Republic. Continue reading “Location of fund assets and accounts”
Category: Property
Disposal of trust fund assets
The trustee has the full right to administer trust fund assets. This means that the trustee may administer and dispose of such assets without restrictions. The statute may, however, restrict the disposition of trust fund assets, e.g. by specifying that real estate property may only be transferred for the price stipulated by expert appraisal or based on the consent of the founder / beneficiaries. Continue reading “Disposal of trust fund assets”
Dedicating property to a trust fund
Property is dedicated to a trust fund either via a contract between the person who intends to dedicate property to the fund and the trustee or via a last will. This also applies to the founder and third parties. Parties who increase trust fund assets at a later time are not considered founders. Continue reading “Dedicating property to a trust fund”