A Trust can be created by execution of a trust deed. There are 2 types of Trusts: - (a) Public Trust (b) Private Trust. A private trust is created for the benefit of a particular group of individuals known as ‘beneficiary’. Public Charitable Trust can be formed for carrying out various social & charitable activities for general public. Some of such activities are:-
Various states in India have formed their state level Public Trust Acts for constitution and administration of trusts in their respective states.
Details of trustees namely name, fathers’ name, age, address, occupation, mobile number and email address
2 photograph of each trustees & settlors
Aadhar card & PAN card copy of trustee & settler
Address proof of premises of society:- Rent Deed/Lease Deed (if rented)/NOC from owner, Property Tax receipt or utility bill (if owned)
Physical presence of settler and witnesses at the time of registration along with original ID proof
Selection of suitable name of trust: The proposed name should end with the words “Trust”. For example:- Shri Radhey govind Charitable Trust
Decide the Board of Trustees and the various office bearers namely president, vice president, secretary and treasurer
Decide various terms and conditions, objects and duration of trust, rights and obligations of trustees etc.
Drafting of trust deed on a non judicial stamp paper of Rs. 500 (in Rajasthan) and duly sign it by settlor
Get trust deed registered at sub-registrar office in whose jurisdiction registered office of trust falls in presence of 2 witnesses
Collect registered trust deed from sub registrar office (normally after 4-6 days)
File application with “Devsthan Vibhag” along with copy of trust deed and ID and address proof of trustees and settler
At least 2 persons who are known as ‘Author’ or ‘Settlor’ are required to form a trust who will execute the trust deed on a non judicial stamp paper of appropriate value in presence of witness. In Rajasthan, non judicial stamp paper of Rs. 500 is sufficient for execution of trust deed. There is no upper limit for the members in a trust.
A ‘Trust Deed’ is the instrument which forms the basis of formation of a trust. The trust deed prescribes the main objects for which the trust has been set up. Apart from the main objects, it also defines the rights and obligations of trustees and the manner in which the funds derived from the activities of trust shall be utilized. It further defines the manner the trust could acquire and liquidate the assets for the objects of the trust. It states the provisions concerning management of trust along with the manner of admission and termination of membership. The deed is signed in presence of 2 witnesses.
Yes, amendment of objects of trust deed is allowed. Such, amendment can be made by executing amended trust deed at sub registrar office in which jurisdiction your trust falls.
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