Creation and registration of trust
Creation of Trust:
- Purpose: Lawful ( sec.4)
- Trust related to immovable is void unless declared as aforesaid, or unless the ownership of the property is transferred to the trustee.(sec-5)
- Creator must be competent (sec-7)
- Elements or essentials of Trust: (i) Author (ii)Intension (iii) Purpose (iv) Trust Property (v)Beneficairy (vi) Trustees (vii) Reasonable certainty by words or act (viii) Trust Deed (Sec-6)
Registration of Public Trust (Sec. 18 of Bombay Public Trust Act)
- Duly signed and notarized Application to the Deputy or Assistant Charity Commissioner (In case of State of Gujrat and Maharashtra) of the region or sub-region or Sub-Registrar of the sub-district appointed under the Indian Registration Act, 1908 with full details as prescribed in form with covering letter. (Schedule II (Vide Rule 6)
In case of State of Gujrat and Maharstra Sec. 18 of Bombay Public Trust Act applicable for Registration.
- Application shall accompanied by the registration fees, Self attested copy of Trust Deed, consent letter of trustees and duly affixed court fee stamps.
- Apply Within three months from the date of creation of trust.
- Application signed and verified in the prescribed manner by the trustee or his agent specially authorized by him in this behalf.
- In case of incomplete application the registering authority may return and direct to resubmit in particular time.
- on satisfaction of Registration authority he shall endorse thereon a certificate containing the word “registered”, together with the number and page of the book in which the document has been copied. Such certificate shall be signed, sealed and dated by the Registering Officer, and shall then be the conclusive evidence that the Trust has been duly registered.
The office of the Charity Commissioner maintains a register containing all details of the Trust; viz., :
(i) Registration Number
(ii) Name and address of the Trust
(iii) Names of all the Trustees (Past & Present)
(iv) Mode of succession of Trusteeship objects of the Trust, particulars of documents creating a Trust, description of movable and immovable properties, particulars of encumbrances on trust property etc.
This register is known as P.T.Register.
A certified copy of the P.T. Registrar in Schedule-I (vide Rule 5) can be obtained by applying in simple application with Rs.10/- Court fee stamp by paying prescribed fees for the same. It is advisable for all the trusts to have a certified copy of P.T. Register entry.