Tuesday, May 4, 2021
Article: Introduction of trusts into the Civil Code of the Republic of Moldova: the Decisive Role of the DCFR
Octavian Cazac recently published an article entitled, Introduction of trusts into the Civil Code of the Republic of Moldova: the Decisive Role of the DCFR, Wills, Trusts, & Estates Law ejournal (2021). Provided below is the abstract to the article:
On 1 March 2019 the Moldovan Civil Code (adopted back in 2002) was considerably modernized by way of a Law to Modernize the Civil Code NO. 133 dated 15 November 2018. Most of its 1,624 articles were amended and some extra 1,000 articles were introduced.
One of the new legal institutions so introduced was Book 3, Title IV on trusts. The Moldovan drafters decided to adopt the model rules suggested in the DCFR to a degree of 95%. For a legislative drafter, the DCFR comes off as a well thought off soft law instrument, with a detailed commentary and insightful comparative notes, all useful for explaining it to drafters and to the legal community. This made it easy for the Moldovan drafters to take decisions. Sometimes policy choices had to be adapted to be more in line with the terminology and civil law tradition prevailing in Moldova.