信托制度在房地产融资中的运用研究

发布时间：2018-06-22 09:09

本文选题：信托 + 房地产　；参考：《华东政法大学》2014年硕士论文

【摘要】：信托制度，是指委托人基于信任而将一定的财产权转让或设定给受托人，使受托人为了受益人的利益或特定目的而对此财产权进行管理和处分。信托以信任为基础，以财产为前提，以受托人为核心，以委托人的意愿为目的。信托制度作为财产转移与财产管理制度，基于其高度的灵活性、创新性与安全性，，从而经受住了时间的考验并在全世界大部分地区得以传播。随着经济的发展和金融业的发达，信托制度在现今社会中被广泛地运用于融资领域与投资领域。房地产行业作为关系国计民生的关键行业，其发展严重受到“资金”的制约，而传统的银行信贷融资、发行股票融资、发行债券融资，以及新兴的海外融资、券商及基金子公司融资均不能满足我国房地产行业的资金需求。只有具有高度灵活性、创新性与安全性的信托制度方是房地产融资的最佳途径，但由于我国法制环境尚不健全，市场经济尚不发达，金融机构、房地产企业、中介服务机构、投资者等市场主体尚不成熟，从而使得信托制度的功能在我国房地产融资中不能得到全面的施展。在我国房地产信托融资实践中存在的较成熟的房地产信托融资类型有：信托贷款模式、权益模式、股权模式、准资产证券化模式和组合模式。笔者将对这五大房地产融资类型的交易结构予以剖析、总结，并针对我国目前的法制环境，提出其存在的问题及完善建议。
[Abstract]:Trust system means that the trustor transfers or establishes a certain property right to the trustee based on trust, which makes the trustee manage and dispose the property right for the benefit of the beneficiary or the specific purpose. Trust is based on trust, property as the premise, trustee as the core and the client's will as the purpose. As a system of property transfer and property management, trust system has withstood the test of time and spread in most parts of the world because of its high flexibility, innovation and security. With the development of economy and financial industry, trust system is widely used in the field of financing and investment. The development of the real estate industry, as a key industry related to the national economy and the people's livelihood, is seriously restricted by "capital", while the traditional bank credit financing, issuing stock financing, issuing bonds financing, and emerging overseas financing, Securities companies and fund subsidiaries can not meet the financing needs of China's real estate industry. Only the trust system with high flexibility, innovation and security is the best way to finance real estate. However, due to the imperfect legal environment, the underdeveloped market economy, financial institutions, real estate enterprises and intermediary services, Investors and other market entities are not mature, so the function of trust system can not be fully developed in real estate financing in China. In the practice of real estate trust financing in China, the more mature types of real estate trust financing are: trust loan model, equity model, quasi-asset securitization model and combination model. The author will analyze and summarize the transaction structure of the five types of real estate financing, and put forward the existing problems and suggestions for the legal environment of our country at present.
【学位授予单位】：华东政法大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：D922.282

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