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Procedure And Information Of Trust Registration
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What is a Trust?
In general a "Trust" is a form of an NGO, which can be formed by 2 or more members for religious or charitable purpose if the Trust is a Public Charitable Trust and for the benefit of its trustees in case of Private Charitable Trust.
As per section 4 of The Indian Trusts Act, 1882
-A trust may be created for any lawful purpose.-
The purpose of a trust is lawful unless it is (a) forbidden by law, or (b) is of such a nature that, if permitted, it would defeat the provisions of any law, or (c) is fraudulent, or (d) involves or implies injury to the person or property of another, or (e) the Court regards it as immoral or opposed to public policy.
Every trust of which the purpose is unlawful is void. And where a trust is created for two purposes, of which one is lawful and the other unlawful and the two purposes cannot be separated, the whole
Trust is void. Explanation.--In this section the expression "law" includes, where the trust-property is immovable and situate in a foreign country, the law of such country.
Who may create a Trust?
As per Section 7 of the Indian Trusts Act, 1882
A trust may be created--
(a) by every person competent to contract, 1* and,
(b) with the permission of a principal Civil Court of original jurisdiction, by or on behalf of a minor; but subject in each case to the law for the time being in force as to the circumstances and extent in and to which the author of the trust may dispose of the trust-property.
Clarification: A Trust can be formed by any person other than a minor.
Subject of Trust
As per Section 8 of the Indian Trusts Act, 1882
The subject-matter of a trust must be property transferable to the beneficiary. It must not be merely beneficial interest under a subsisting trust.
A Trust can be formed either by transferring movable or immovable property to the beneficiary of the Trust.
Procedure of Trust Registration in Delhi
1. Execution of Trust Deed; the first step of Trust Registration in Delhi is to execute the Trust deed. The Trust deed is the document in which the information of Founder and Trustees and their powers and duties are mentioned.
2. Appointment with the Sub-Registrar ; After preparing the Trust Deed Trustees are required to get the appointment with the sub registrar of their concerned jurisdiction and appear before the registrar of the date of appointment along with the original documents.
3. Issue of Registered Trust Deed; Registrar if satisfied with the information and records provided will issue the registered Trust Deed within 7 Days.
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