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Query regarding Private Family trust term in India
13-Jan-2025 (In Wills / Trusts Law)
What is the maximum term of the private family trust under rule against perpetuity. Please explain in simple words or numbers as I don't understand the language available on the internet.
Eg. Can it be 100 or 200 or 500 years?
Kartar Singh v. Harbhajan Singh (2001): The Supreme Court of India held that a trust created for a period exceeding the lifetime of one or more persons in being at the date of the creation of the trust, plus a period of 18 years, is void under the rule against perpetuity.
Raj Kumar Pandey v. Sarita Pandey (2004): The Delhi High Court held that a trust created for a period exceeding the lifetime of one or more persons in being at the date of the creation of the trust, plus a period of 18 years, is void under the rule against perpetuity.
Based on the above statutory provisions and judicial precedents, the maximum term of a private family trust under the rule against perpetuity in India is the lifetime of one or more persons in being at the date of the creation of the trust, plus a period of 18 years. This means that a private family trust can be created for a maximum period of 118 years (i.e., the lifetime of a person plus 18 years). For proper advice contact or visit to lawyer.
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