about registration of any trust
Kamlesh soni
(Querist) 18 February 2009
This query is : Resolved
Sir I m new in legal line. please give me some advise how one can registration an individual trust? how many minimum required and where i have to inquiery about it?My one client wants to registration a trust for social works.Please give me some idea.
sanjeev murthy desai
(Expert) 19 February 2009
A trust of immoveable property can be created by two ways. One by a non-testamentary document and another by a testamentary document such as a will. In other words, a trust regarding a immoveable property cannot be created orally but it must be by a document duly registered. A trust of a moveable property can be created either by a document or delivering the property to the trustee with necessary oral directions. If the directions are given in writing it would amount to a trust by a non-testamentary document which may or may not be registered.
A person who creates a trust is called the settlor, the person to whom the the property is transferred on trust is called a trustee and the person for whose benefit the property is transferred is called the beneficiary or "cestuique trust" .
M. PIRAVI PERUMAL
(Expert) 19 February 2009
Trusts are governed by The Indian Trusts Act - 1882. Trust deed must contain
1. Description of the Deed
2. Date of Deed
3. Parties to Deed
4. Creation and acceptance of the Trust
5. Corpus of Trust
6. Objects of the Trust
7. Management of Trust
8. Revocation and dissolution of Trust
9. Execution of Trust
10. Witnesses to the Deed of Trust
I can provide you the format of trust deed if you could provide your email id. I have also uploaded the same in our file section.
A. A. JOSE
(Expert) 19 February 2009
Trusts are registered by the Charity Commissioner's Office in Gujarat State. Other points as rightly pointed out by experts are endorsed.
Legal Eagle
(Expert) 19 February 2009
As far as Trusts created in Bombay & Gujarat are concerned, they have to be registered with the office of the Charity Commissioner. Such Trusts are governed by the Bombay Public Trusts Act, 1950. As regards Trusts other than the two places are governed by the Indian Trusts Act, 1886. The said Trust Deed has to be registered as a normal Document for registration with the concerned Registrar's office.
In both the cases you have to apply for exemption from the Incom Tax office.
PALNITKAR V.V.
(Expert) 20 February 2009
Thanks for the valuable information.
Kamlesh soni
(Querist) 02 April 2009
Thanks for the valuable information as special to kashmira
