Article 1012. The contract of trust management of property.
1. Under a contract of trust management of property, one party (the founder of management) transfers to the other party (trust manager) for a fixed term the property in trust management, and the other party undertakes to manage this property in the interests of the founder of management or the person (beneficiary) specified by him. The transfer of property to trust management does not entail the transfer of ownership of it to the trustee. 2. By carrying out trust management of property, the trustee is entitled to take in respect of this property in accordance with the trust management agreement any legal and factual actions in the interests of the beneficiary. Restrictions may be provided for by a law or contract in respect of certain actions on trust management of property. 3. The trustee administers transactions with the property transferred to the trust management on his own behalf, indicating that he acts as such trustee. This condition is deemed to be met if, when committing actions that do not require written registration, the other party is informed of the trust manager in their capacity as they were performed, and in written documents after the name or the name of the trustee manager, the note “D.U.” is made. In the absence of an indication of the action of the trustee in this capacity, the trustee undertakes personally to third parties and is liable to them only with the property belonging to him.
References to other articles of chapter 53. Trust management of property: