Trusts in common law: concept and classification

In this article, the authors have attempted to summarize information about trusts. Based on the methodology and patterns of common law, the authors build a line of understanding of this institution, which has been formed over many hundreds of years. This article presents the main provisions on common law, the history and concept of trusts in common law, and the difference between this institution and use from the year that existed from the beginning of the 12th century to 1893. The classification of this institute is also presented. Based on this classification, the authors have introduced some new vision of the trust than the traditional one found in the Russian doctrine.