TRUST KYA HAI?TRUST KAISE BANAYEN ?

 What is trust

A trust is an obligation placed on a person with which a trust or authority is placed. It is a belief that he is made aware of the legal title to the property, which he holds for the benefit of others.

A trust is defined in section 3 of the Trust Act, 1882, as "an obligation arising out of a trust bound to the ownership of the property and accepted and accepted by the owner and declared or accepted by him," For the benefit of another or another. Another owner.

 

Trust requirements

A trust agency does not have a contract to hold the property. It involves transfer from owner to trustee under certain terms and conditions. A trust is essentially the transfer of property one after another for the benefit of a person or to carry an object. The purpose of a trust must be valid, ie

It should not be prohibited by law.

It should not be of such a nature, if allowed it can defeat the provisions of any law.

This should not be fraud.

It should not include the property of that person or any other person or should not be so or should not be considered immoral by the court or opposed to public policy.

Where a trust is created for two purposes, one of which is valid and the other is not and the two purposes cannot be separated, the entire trust is void.

 

Build trust

A trust can be created in two ways. One by a non-testament document and the other by a testament-like testament document.

A belief about an immovable property cannot be made verbally, but it must be registered by a document. A movable property trust can either be created by a document or distribute the property to the trustee with the necessary verbal instructions. If the instructions are given in writing, it will be given by a non-testament document to a trust which may or may not be registered.

The person who created the trust is called the settler, the person to whom the property is transferred to the trust is called the trustee and the person to whom the property is transferred is called the beneficiary & cestui que trust.

 

deed of Trust

A trust related to immovable property is required to be created by a document and that document must contain five important  things with state and reasonable certainty:

Agreement on behalf of the author of the trust to create an intention or trust.

The purpose of the trust.

Beneficiary.

Property of trust, and transfer of property to trustee.

 

declaration of Trust

A trust can be created by the author himself declaring that he will be the owner of the property, not as the owner, but as trustee for the benefit of some person or persons including himself and in such case transfer of property is necessary. No, but it is announced by the trust owner and must be the trustee alone. However, such declaration would require registration under the Registration Act.

 

Testament trust

A testament can also be made by a will document ie will and the conditions mentioned in Section 6 of the Trust Act are required to be fulfilled. Such a Will also does not require registration.

A trust is created by the application of a planned trust or as a constructive trust or also as a derivative trust. But they are created by law by imagination and cannot be the subject of explaining them.

 

Who can create a trust?

A trust may be created by any person with the authority of a competent court or even with the authority of a competent court and in respect of any property which is transferable and upon which the author of the trust transmitted the power is.

 

What are the types of a trust?

A trust can be private and public.

When the purpose of a trust is for a legal person to benefit an individual or group of individuals or their descendants and who is capable of holding property, it is a private trust.

When the purpose of the trust is to benefit the public or any section of the public, it is a public trust.

 

Who can be a trustee?

A trustee can be any person, an individual or a corporate body or a corporate sole, who is capable of holding and contracting assets. And he must accept faith.