Ask Veda
Section 59: where no trustees are appointed, or all die, disclaim or are discharged, or execution by the trustee is or becomes impracticable, the beneficiary may sue for execution of the trust, which the Court carries out so far as possible until a trustee is appointed. Section 60: the beneficiary...
Read Complete Guide →Section 1 says the Act "may be called the Indian Trusts Act, 1882" and that it came into force on 1 March 1882. It then says that nothing in it affects the rules of Mohammedan law as to Waqf or the mutual relations of members of an undivided family, and does not apply to public or private religious...
A trust may be created for any lawful purpose. A purpose is not lawful if it is forbidden by law, would defeat the provisions of any law, is fraudulent, involves injury to the person or property of another, or is regarded by the Court as immoral or opposed to public policy. Every trust with an...
No trust in relation to immovable property is valid unless declared by a non-testamentary instrument in writing, signed by the author of the trust or the trustee and registered, or by the will of the author or of the trustee. For movable property, the trust is valid if declared in those ways or if...
Subject to section 5, a trust is created when the author of the trust indicates with reasonable certainty, by any words or acts, (a) an intention to create a trust, (b) the purpose of the trust, (c) the beneficiary, and (d) the trust-property. And, unless the trust is declared by will or the author...
A trust may be created (a) by every person competent to contract, and (b) with the permission of a principal Civil Court of original jurisdiction, by or on behalf of a minor. In each case the power is subject to the law for the time being in force as to the circumstances and extent in and to which...
The subject-matter of a trust must be property transferable to the beneficiary. And it must not be merely a beneficial interest under a subsisting trust. The section prints no illustrations. Section 3 calls the subject-matter "trust-property" or "trust money".
Every person capable of holding property may be a beneficiary (s.9) and may be a trustee (s.10). But where the trust involves the exercise of discretion, the trustee cannot execute it unless he is competent to contract. No one is bound to accept a trust. A trust is accepted by words or acts showing...
The trustee is bound to fulfil the purpose of the trust and to obey the author's directions given at the time of creation, except as modified by the consent of all the beneficiaries being competent to contract. Where a beneficiary is not competent to contract, a principal Civil Court of original...
Section 12: acquaint yourself, as soon as possible, with the nature and circumstances of the trust property; obtain a transfer into your name where necessary; and (subject to the instrument of trust) get in trust money invested on insufficient or hazardous security. Section 13: maintain and defend...
From the first step to full compliance, get professional assistance from the TaxClue team — matched to your exact Trust Registration requirement.
Talk to a Trust Registration Expert →