The legal relations of the trust include three parties concerned: consignor, bailee and beneficiary among whom the bailee is in the core position.
信托法律关系包括三方当事人：委托人、受托人和受益人。其中受托人处于核心地位。
A concrete analysis is made in the second part on the special legal relations in REITs in accordance with the stipulations of Trust Law.
第二部分根据《信托法》理论，对房地产投资信托中特殊的信托法律关系做具体的分析。
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