信托受益权质押法律风险防范论析

A Research on Legal Risk Prevention of Pledge of Trust Beneficiary Rights

目前在商业实践中,信托公司开展以本公司管理的信托产品项下的信托受益权为质押标的的质押融资业务,出质人也将其作为信托受益人持有的信托受益权向债权人提供担保。但对于信托受益权性质的认定、信托受益权质押的法律规制、质押纠纷的司法审判适用都存在缺位与争议。通过分析法院判决,引出信托受益权质押合法性与设立和效力的问题,并借鉴日本的信托受益权立法现状,提出相应建议:坚持物权法定缓和主义提供法律依据,以登记为质押公示制度,完善信托产品登记,明确信托受益权质押效力范围。

At present,the assets of the trust industry are huge.In commercial practice,there is a pledge financing business in which the trust company carries out the trust beneficiary right under the trust products managed by the company as the pledge target,and the pledger also uses it as the trust held by the trust beneficiary.The beneficiary rights provide guarantees to creditors.However,there are currently gaps and disputes regarding the identification of the nature of trust beneficiary rights,the legal regulation of the pledge of trust beneficiary rights,and the judicial trial of pledge disputes.This paper analyzes the judgment of the court and introduces the legality,establishment and effectiveness of the pledge of trust beneficiary rights.It also draws on the current situation of the legislation of trust beneficiary rights in Japan,and puts forward corresponding suggestions:insisting on the legal basis of the legal statism of property rights,and registering as pledge publicity institutions,improving the registration of trust products,and clarifying the scope of the pledge of trust beneficiary rights.