Property purchase - education institute.
VIMAL RAJ K
(Querist) 26 March 2013
This query is : Resolved
A immovable property purchased by an education institute is signed by its President in 1993. The institute was sponsored by Trust A. And from 2007 the institute was sponsored by Trust B.
Questions:
- To whom the immovable property belongs to Education Institute/Trust A in 1993?
- Does Trust A has any rights on the immovable property.
- If Yes then how the immovable property is passed to Trust B in 2007?
- Who will be owner of the immovable property Education Institute/ Trust B in 2013?
Raj Kumar Makkad
(Expert) 26 March 2013
When the property has been purchased by institute then the same is duly owned by it and not by any of the Trusts. The institute may be sponsored by any of the Trusts and may even not but the ownership shall remain with the institute unless the same is transferred to either of these by way of a registered sale-deed.
ajay sethi
(Expert) 26 March 2013
trust A was mere sponsor . the immoveable property has been purchased by insititute in its own name . Trust A does no have any rights on said property . TRust B aslo does not have any rights on said property
