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5/1/13 How to form an Educational Trust??? - Others Experts - Law, Lawyers, Advocates, Law Firms,Legal Help, Legal Experts,Judgements,Law Help, Indian Lawyers

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How to forman Educational Trust???(Others)

This query is : Resolved

Author : Nagaraja B S

Posted 3 years ago

Hi,

I would like to know, How to form an Educational Trust in Karnataka???

What is the criteria for applying??

Where to apply??

Please e-mail me at naga [email protected]

1

1.Definition of Trust. Trust is defined in Section 3 of the Trust Act, 1882 asan obligation annexed to the ownership of property and arising out of aconfidence reposed in and accepted by the owner, or declared andacce ted b him for the benefit of another or of another and the owner. In

Legal Business C iv il C ons ti tuti ona l Cr imi nal Fa mily L abour I ntellectua l Property T ax ati on Others

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Expert : A V Vishal

Posted 3 years ago

simple words, it is a transfer of property by the owner to anther for thebenefit of a third person along w ith or without himself or a declaration bythe owner, to hold the property not for himself but for another or for himselfand another.

2.Creation of Trust. A person who creates a trust is called the Author of theTrust or Settler, the person to whom the property is transferred on trust iscalled a Trustee and the person for whose benefits the property istransferred is called the beneficiary.

3.Deed of Trust. A trust relating to an immovable property is required to becreated by a document and such document must sta te and contain fiveessential things with reasonable certainty namely;

(a) The intention on the pa rt of the author of the trust to create a trust,

(b) The purpose of the trust,

(c) The beneficiary,

(d) The trust property and

(e) The transfer of the property to the trustee.

There cannot be trust without prope rty.

4.Who can create a trust.Any person competent to contract can create atrust.

5.Who can be trustee . A trustee can be any person that is, an individual ora corporate body or corporate sole, capable of holding property andcompetent to contract.

6.Duties liabilities of trustees. The Indian Trust Act, 1882 lays dow n theduties, liabilities and powers of a trustee in general. Section 11 to 30 of theAct, prescribes the duties and liabilities.

a) A trust can be formed as pe r Section 4 of Indian Trust Act 1982 for alawful purpose;

b) A trust should have a document written and signed by trustees or a so letrustee;

c) A trust can be formed through a w ill also;

Objectives of the settlor should be clear and unambiguous;

Trust cannot be formed for the following purposes under Sec.4 of the Act:a) Unlawful purposes;

b) Against provisions of Indian Trusts Act 1932 rules made there under;

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c) If there are provisions for cheating e tc. in the trust;

d) If the trust is intended to cause loss or damage to one's property

The following can form a trust under Sec.7 of the Indian Trusts Act 1882:

a) A person capable o f making contract can form a trust;

b) Trust can be formed on behalf of minor with permission of Civil Court.

1. Rs.500/- if only money is contributed by the author o f trust or ifimmovable property is convyed where in the author remains as the soletrustee.

2. Same duty as conveyance if the immovable property is conveyed and theauthor is not a trustee or a sole trustee.

As per Article III of table of fees under Karnataka Registration Rules 1965,fee shall be paid at 1 percent on the total of value shown by the trustee orvalue of movable or immovable property shown in the trust deed.

Expert : niranjan

Posted 3 years ago

I would like to add that please refer Societies Registration Act. Under this

Act this could be done.

Expert : B KRaghavendra Rao

Posted 3 years ago

I disagree with Mr. Niranjan. Under Societies Registration Act, onlyEducation Societies could be registe red. As rightly suggested by Mr. A. V.Vishal, a trust whether educational or otherwise has to be establishedunder Trust Act.

A Trust has to be registered in the Sub-Registrar's Office.

a o ame

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How to Form an Educational Trust___ - Others Experts - Law, Lawyers, Advocates, Law Firms,Legal...

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