A Land Trust means that a truster leaves a land in trust with a trustee(trust company). In other words, its subject must be a land. This Land Trust System not only contributes the reasonable use of a country by recreating the value of a land but also...
A Land Trust means that a truster leaves a land in trust with a trustee(trust company). In other words, its subject must be a land. This Land Trust System not only contributes the reasonable use of a country by recreating the value of a land but also leads a desirable culture of real-estate by taking advantage a reasonable use rather than the concept of a possession. Also, it can increase the supply of exploitable private lands by compromising and negotiating without direct public intervention, revise the land policy for unused or non-business land and utilize the limited land resources effectively.
In addition, if it can be led the private participation into the land market, the human and financial burden will be reduced.
To activate this system in Korea, it must be solved many problems like the immaturity of social conditions, the difficulty of fund raising, the insufficient legal and taxation systems and the lack of understanding of the people.
In order to settle these problems and develop the land trust system, it must be taken necessary measures listed below.
1. The land trust law and the land system should be revised. Trust law, local financial law, land development law and every kinds of real-estate tax law should be revised to settle this system, because the land trust system is the one which promote the utility of a land through the relations of private law.
2. It needs a taxational improvement for the land trust system. land trusters must be reduced or exempted from tax and the trust companies must be supported through the revision of land trust tax law.
3. It must be strengthened the management of national and public hybrid property, made as an available lands and trusted the country to an expert trust company that can manage the one effectively through the revision of laws and regulations whose management and disposal problems, so the country must not be unemployed and can be available.
4. In order to flourish the land trust system, it needs a smooth fund-raising. It must be trusted some of land trust business to financial agencies in order to maintain investment sources stably. It needs the improvement measurement like a preferential treatment in loaning for the land trust companies through the bank's participation in the land trust business, the conversion of real-estate into bonds, and making the trust property fluid.
In this thesis, I study the land trust system theoretically, and search the problem and the possibility of the application through making a comparative study of land trust system between advanced countries.