Indian Trusts Act,1882
Act No : 2
Section : Interpretation-clause "trust"
3.Interpretation-clause "trust":-A "trust" is an obligationannexed to the ownership of property, and arising out of a confidencereposed in and accepted by the--------------------------------------------------------------------1 The Act has been extended to Berar by the Berar Laws Act, 1941 (4 of 1941).Extended to and brought into force in Dadra and Nagar Havoli (w.e.f.1.7.1965) by Reg. 6 of 1963, s.2 and Sch.IExtended to Goa, Daman and Diu by Re. 11 of 1963, s. 3 and Sch.The Act comes into force in Pondicherry on 1.10.1963 vide Reg. 7 of1963, s. 3 and Sch. I.The Act shall come into force in the State of Sikkim on 1.9.1984 videNotifn. No.S.O.642(E), dt.24.8.1984 Gaz. of India, Exty, pt. II Sec.3(ii).2 Subs. by the A. O. 1948 for the original words as amended by theA. O. 1937.3 Subs. by the A. O. 1950 for "all the Provinces of India, except".4 Subs. by Act 3 of 1951, s.3 and Sch., for "except Part B States".5 The words "and Panth Piploda" omitted by the A. O. 1950.6 Subs. by the A. O. 1950 for "either or both of the saidProvinces".20owner, or declared and accepted by him, for the benefit of another, orof another and the owner:"author of the trust": the person who reposes or declares the confidence is called the"author of the trust": the person who accepts the confidence is calledthe "trustee": the person for whose benefit the confidence is acceptedis called the "beneficiary": the subject-matter of the trust is called"trust-property" or "trust-money": the "beneficial interest" or"interest" of the beneficiary is his right against the trustee asowner of the trust-property; and the instrument, if any, by which thetrust is declared is called the "instrument of trust":"trustee": "beneficiary": "trust-property": "beneficial interest":"instrument of trust": "breach of trust": a breach of any duty imposed on a trustee, as such, by any lawfor the time being in force, is called a "breach of trust":"registered":"notice":Expressions defined in Act 9 of 1872. Expressions defined in Act 9 of 1872.-and in this Act, unlessthere be something repugnant in the subject or context, "registered"means registered under the law for the registration of documents forthe time being in force: a person is said to have "notice" of a facteither when he actually knows that fact, or when, but for wilfulabstention from inquiry or gross negligence, he would have known it,or when information of the fact is given to or obtained by his agent,under the circumstances mentioned in the Indian Contract Act, 1872 (9of 1872), section 229; and all expressions used herein and defined inthe Indian Contract Act, 1872, shall be deemed to have the meaningsrespectively attributed to them by that Act.
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