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Patrimony of affectation
In the civil law tradition the patrimony of affectation is a patrimony, or legal entitlement, that can be divided for a purpose, as being distinct from the general patrimony of the person. It is similar to the common law concept of the trust in some aspects where property is held by an administrator for the benefit of third parties. The property remains outside the patrimony of the grantor, thus if the grantor become bankrupt or has liabilities, the property remains untouchable and may continue to benefit the intended benificiares.
03-10-2013 05:06:04
The contents of this article is licensed from www.wikipedia.org under the GNU Free Documentation License. Click here to see the transparent copy and copyright details
The contents of this article is licensed from www.wikipedia.org under the GNU Free Documentation License. Click here to see the transparent copy and copyright details