Commercial Trust – Autonomous Estate
According to a ruling of August 3, 2005, case file 1909, the Supreme Court of Justice defines the Autonomous Estate as those that, as a general rule, have a transitory life of their own but are intended to become definitive when they come to belong to a natural or legal person, to fulfill a purpose, or to be part of a specific application or allocation. That is to say, this type of estate has rights and obligations, constituting a legal universality in that they answer with their assets for their liabilities. This is in line with the Commercial Code, Article 1234, numeral 4, which shows that the legal entity is the trustee and will be responsible for the protection and defense of all assets delivered by the settlor in favor of the beneficiary against the actions of third parties.
April 3, 2018
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