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November 4, 2016 in English Legal Notes, Trust Law |

Trusts have no legal personality

Trust have no legal personality. This is why the trustee can be the holder of the rights and obligations, in his/her capacity as administrator of the trust.

However, to qualify as a patrimony of affectation, a trust constitutes a legal universality which may be a debtor or a creditor, but always acting through its trust.

The fact that trusts in the Dominican Republic have a national taxpayer registration number (Registro Nacional de Contribuyente) does not imply the recognition of legal personality, but rather that they are assigned one for the purposes of granting a fiscal personality.

The simple explanation for why trusts have no legal personality is that it has not been recognized under any law.

The fundamental reason why, in almost all countries, trusts do not have their own personality is linked to the autonomous nature that forms the bedrock of the trust.

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