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What is the procedure to form a trust
01-Feb-2023 (In Wills / Trusts Law)
What is the procedure to form a trust
Sir
You need to get a trust deed prepared (legal document which governs the trust) ,obtain the consent of people ready to act as trustees, minimum 2 trustee and get the deed registered under The Indian Trust Act 1882
thank you
You need to get a trust deed prepared (legal document which governs the trust) ,obtain the consent of people ready to act as trustees, minimum 2 trustee and get the deed registered under The Indian Trust Act 1882
thank you
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Adv. Tarundeep Singh
Delhi | 25+ Answers
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A trust should be created by executing a trust deed with the name, address, and object of the trust. It should mention the settlor and two trustees of the trust along with the property of the trust. A trust deed needs to be registered. Nominal stamp duty is required to be paid on a trust deed. In Delhi, the stamp duty for a trust deed is one hundred rupees. Any person who is capable of holding a property can be a trustee. This includes an individual, corporate bodies, and even minors if it is a specific trust.
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Dear querisest,
Formation of a trust is a simple process, you need to make a trust deed and get the same registered with the sub-registrar office in the jurisdiction where the trust comes.
The contents of your Trust Deed are going to be very crucial, it is advisable to get it vetted by a good attorney.
Formation of a trust is a simple process, you need to make a trust deed and get the same registered with the sub-registrar office in the jurisdiction where the trust comes.
The contents of your Trust Deed are going to be very crucial, it is advisable to get it vetted by a good attorney.
Helpful?
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Adv. Saket Bisaani
Bangalore | 100+ Answers
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