Liechtenstein is the only continental European country where the legal structure of a trust is known. With a trust, the settlor endows trust assets upon the trustee, together with the obligation to manage and use them in his own name and on the behalf of the rules in the trust deed. In contrast to the foundation, a trust does not constitute a legal person; the trust is a kind of contractual relationship. Therefore, trusts do not have their own legal personality. The trust is regulated in art. 897–932 of the Liechtenstein Persons and Companies Act in Liechtenstein (PGR).