Trust Registration Consultant

Trust is separate legal entity runs by trustees with the motive to achieve non profitable object for which trust was incorporated. Mainly trust can be classified by two types Private Trust and Public Trust. Trust is regulated by The Trusts Act 1882, The Income Tax Act 1962 and The Societies Registration Act 1860. Let’s analyze other character and definition of trust.

Trusts emerge as a business structure driven by noble intentions, aiming to foster the advancement of sciences, literature, and various commendable causes. Their roles extend to mitigating scarcity, extending education to the deserving, and delivering crucial medical support. Trust registration involves the formal enrollment of a trust under the Trusts Act of 1882. This legal procedure guarantees the trust’s acknowledgment and adherence to the legal framework. The act of registering a trust not only imparts legal validity but also affirms its existence as an independent and recognized entity.

Trusts are created by individuals to designate a portion of their assets or property for the advantage of another person. A trust constitutes a fiduciary bond among the trustor, trustee, and beneficiary. The delineation of the involved parties is documented in the trust deed during the trust registration process.

The establishment of a trust occurs when the trustor transfers a particular asset or property to the trustee, ultimately benefiting the designated beneficiary. This beneficiary, often a third party, may share connections with both the trustor and the trustee.

Hence, the dynamics between the involved parties play a crucial role in defining the essence of a trust. As per the Indian Trusts Act of 1882, a trust is characterized as a “relationship between the trustor and trustee to hold specific benefits for the beneficiary.”