Trust Registration
Trust Registration
As per Indian Trust Act 1882, the Trust is an organization in which the owner or trustor adjudicates to transfer the power and right of his property or asset to a second person named trustee which means that the third person or beneficiary can get the benefit out of it. Such an asset or property is transferred by the trust register to the trustee with the declaration of the statement that the trustee should own the asset or property for the recipients of the Trust.
Trust registration starts with the preparing of a trust deed as it is the first step or requirement in the trust registration online procedure. Trust Deed is mandatory to register a charitable trust. Therefore, charitable enrolment is also called a trust deed. Trust Deed is usually drafted on the non-judicial stamp document, every state has determined its own price on stamp duty. Once the drafting of Trust deed registration is done, the very next step is to book an appointment with the concerned sub-registrar office. And importantly, all the trustees have to present on the appointment date with the sub-registrar along with the trust deed and two witnesses to carry on the registration process.
Overview
Our Trust Registration services help you through all the legalities and formalities of registering your trust. Not sure if you want one? Our experts are there to help you out.
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FAQ
Frequently asked questions.
Registration serves to give the court jurisdiction over any disputes involving the trust -- for example, if after your death, a beneficiary wants to object to the way your successor trustee distributed the trust property.
The documents required for the Trust registration are Form 10G, Registration certificate, Trust PAN card copy, utility bill copy, NoC from the owner, Trust deed copy, bank passbook for the past three years and evidence of Progress Report and Welfare Activities.
Registration of a trust is not compulsory if a private Trust declared by a WILL even if it involves immovable property. In case of Public Trust, whether in relation to movable property or an immovable property and whether created under a WILL or inter vivos, registration is optional.
A trust can be created by execution of a trust deed; there are two types of trust. A public trust (charitable trust) is created for the benefit of the general public whereas a private trust is created for the benefit of a particular group of individuals known as the beneficiary.
