Patrimony of affectation
Encyclopedia
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 beneficiaries.
Civil law (legal system)
Civil law is a legal system inspired by Roman law and whose primary feature is that laws are codified into collections, as compared to common law systems that gives great precedential weight to common law on the principle that it is unfair to treat similar facts differently on different...
tradition the patrimony of affectation is a patrimony
Patrimony
Patrimony may refer to:* Property or other legal entitlements inherited from , one's father, especially if it has been handed down through generations in the same family, birthright...
, 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
Common law
Common law is law developed by judges through decisions of courts and similar tribunals rather than through legislative statutes or executive branch action...
concept of the trust
Trust law
In common law legal systems, a trust is a relationship whereby property is held by one party for the benefit of another...
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 beneficiaries.