Pvt Trust

 

PRIVATE TRUST

It is constituted for the benefit of one or more individuals who are, or within a given time may be, definitely ascertained. They  are governed by the Indian Trusts Act 1882. A Private Trust may be created inter vivos or by will. If a trust in created by will it shall be subject to the provisions of Indian Succession Act, 1925.

REQUISITES

The existence of the author/settlor of the Trust or someone at whose instance the Trust comes into existence and the settlor to make an unequivocal declaration which is binding on him.

There must be a divesting of the ownership by the author of the trust in favour of the trustee for the beneficial enjoyment by the beneficiary.

 A Trust property.

 The objects of the trust must be precise and  clearly specified.

The beneficiary who may be particular person or persons.

Unless all the above requisites are fulfilled, a trust cannot be said to have come into existence.

REGISTRATION

In case of a Private Trust declared by a will, registration will not be necessary, even if it involves an immovable property. Registration will not be required, of a trust in relation to movable property.

     
   
     
   
     
   
     
 
     
   
     
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