TRUST REGISTRATION

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Why Choose us for TRUST REGISTRATION

Expertise: We take pride in being pioneers of swift and efficient Trust Registration processing. Our dedicated team has a proven track record of delivering results within 24 hours, saving you time and eliminating unnecessary delays.

Professional Prowess: We’re not just experts Our team’s comprehensive knowledge of TRUST Registration regulations and meticulous attention to detail guarantee accurate and precise submissions every time.

Seamless Process: With us, the journey towards TRUST Registration compliance is hassle-free. Our simplified steps ensure that you can focus on your culinary creativity while we handle the paperwork intricacies on your behalf.

Document Delivery: No more waiting! Once your registration is complete, we promptly deliver your TRUST Certificate documents directly to your inbox. 

What is TRUST Registration

The formal process of Trust Registration involves officially enrolling a trust under the Trusts Act of 1882. This crucial legal step ensures the trust's acknowledgment and adherence to legal parameters, providing it with legal validity and establishing its identity as an independent entity.

Creation Of Trust – Types

The creation of Trust depends on the three types of individuals:-

•        The trustier who declares the confidence

•        A trustee who accept the confidence

•        The beneficiary is the individual who avails benefits from the Trust.

A trust is created when the property owner i.e. trustier, transfers property to a person (trustee) to benefit the beneficiaries. The settler is a primary member of the trust who has more power at the disposal than trustees. The trustee cannot administer the trust for the sake of personal interest. It is subjected to specific regulations prescribed by state law.

Trust’s Classification

Public Trust

As the name suggests, public trust is formed for the benefit of the general public. In layman terms, the primary beneficiary is the general public instead of a specific individual. The public trust is further divided into two parts:

•        Public Charitable Trust

•        Public Religious Trust

Private Trust

Unlike a public trust, private trust is formed to benefit families or individuals. Moreover, such trust is categorized into two parts:

•        Private Trusts whose heirs and their important offers both can be resolved

•        Private Trusts who’s both or either the heirs and their critical offers can’t be resolved

Although public and private trusts sound identical entities on the surface, they bear some significant differences. The primary difference between the two is that the private trust works in the direction of the specific beneficiary/ beneficiaries. In contrast, the public trust works for the benefit of the general public at large. In addition to that, the public trust is administered by the board of trustees. Meanwhile, the private trust is handled by the appointed trustees.

Now, let’s unfolds the topic further and find out what type of Documents required for trust registration. Below is the documentation list that one has to furnish to the relevant authority for the trust registration.

Trust Deed Encloses The Following Details

•        Trust’s Motive

•        The trustee and settler’s basic details include name, occupational background, designation, age, contact information, etc.

•        The total number of trustees.

•        Address of the Trust’s registered office.

•        Trust’s proposed name.

•        Copy of the identification proof of trustee and settler.

•        Photos (passport size) of trustees and settlers.

•        No Objection Certificate (NOC) from the owner of the property (thruster).

•        Settler’s signatures on every page of the trust deed

Important Note On The Foundation Of Trust In India

It should be noted that the minimum of two persons can lay down the foundation of the Trust via trust deed. The trust deed is demonstrated on the non-judicial stamp paper that worth 4% of trust property valuation. Such documents seek the approval of the charities commissioner in the state of Gujarat and Maharashtra. The individuals from the other states need to approach the registrar to serve this purpose. The trust deed demonstrates the trust’s intention, objective, and regulations. Well, that’s all about the Trust and Documents required for trust registration.

Conclusion

In general, you don’t need to arrange a large pile of documents to register a trust. The amount of documentation required in a trust registration is relatively lower than other forms of registration. Also, the process of trust registration is not stringent, either. The parties interested in setting up a trust should clearly define the role and responsibilities to avert future conflicts. Priyagroup shall be happy to serve you in case you need any assistance in the process of Trust Registration. Our professionals would ensure your seamless process at a minimum cost.