The ‘Dual Patrimony Theory’ from a Comparative Perspective

Speaker: Dr Giovanna Marchetti - Institute of Italian Law, University of Innsbruck

Abstract:

The main obstacle to the introduction of the trust in Italy is often said to lie in Article 2740 of the Italian Civil Code. Article 2740 establishes that a debtor is liable for the performance of his or her obligations with all his or her present and future assets. This principle, which can also be found in the French Civil Code (article 2284) and in the Spanish Civil Code (article 1911), has been traditionally considered to provide the basis of the “on person, one patrimony” theory, and the main principle governing debtor – creditor relations.

This presentation explores the historical development of both the “one person, one patrimony” theory in civil law legal systems, such as Italy, France and Spain, and the “dual patrimony” theory as developed in Scotland, and analyses Italian law against this backdrop. The aim is to show that although the common law trust is difficult to reconcile with civil law legal systems, this is not the case for the “trust without equity”

This event is free, open to all and no registration is required.