Trust Registration

Trust Registration

A trust is majorly recognized as the kind of an arrangement that intends to hand over a property to another person with an intention of his/her benefit. The term “Trust Registration” refers to getting trust deed registered so that the aims as well as the objectives of a trust are clearly defined in an organized manner.

How To Get A Trust Registered?

Getting a trust registered is not at all a difficult task since it can be completed in several steps. These steps are mentioned below. Have a look:

1. Step 1: This step includes the drafting as well as preparation of the Trust Deed by a legal expert.
2. Step 2: Buy an e-Paper stamp for the execution.
3. Step 3: Now is the time for you to get the date fixed for Trust’s registration in the Sub Registrar office.
4. Step 4: Pay the Government Registration fee.
5. Step 5: Visit the Sub Registrar Office along with the trustees as well as two witnesses on the day of Trust deed registration.
6. Step 6: Lastly, collect the Registered Trust Deed after a week or so.

What Is A Trust Deed?

A Trust Deed is referred as a trust’s significant instrument that describes as well as mentions the aims and objectives of the management/trust. It is mandatorily required during the involvement of a property i.e. a land or building since it aims at facilitating some notable evidences about the existence of that respective Trust.

What Are The Purposes Trust Formation?

There are basically two types of trusts & each one of them is set up with a distinct purpose. Some of the purposes serves by these are:

Public Trust

1. Setting up schools & other institutions for the education of students.
2. Promoting social issues such as women empowerment.
3. Providing jobs to the unemployed from the backward areas of the society.
4. Taking utmost care of the elderly people.
5. Help in environment conservation by planting trees & reducing pollution.

Private Trust

1. Providing the benefits to the family members
2. Preserve & manage the property

Most Important Contents In A Trust Deed?

The highly prominent and very important elements in a Trust Deed are as follows:

1. Authority/settler’s Names
2. Trust’s Main Objects
3. Trustees’ Names
4. Beneficiary’s Name
5. The Address of Trustees’ offices
6. Duties of the beneficiaries
7. Mode of Trust’s determination