Info on Indian Trusts Act 1882

Info on Indian Trusts Act 1882This application contains all information related to the Indian Trusts Act 1882

Info on Indian Trusts Act 1882

Info on Indian Trusts Act 1882This application contains all information related to the Indian Trusts Act 1882. Through a private trust, assets or wealth are transferred by one party to be held by another party for the benefit of a third party, under the Indian Trusts Act, 1982. As per section 3 of Indian Trust Act 1882 “A Trust is an obligation annexed to the ownership of the property, and arising out of a confidence reposed in and accepted by the owner, or declared and accepted by him, for the benefit of another, or of another and the owner”.When you go through the contents of this application you will understand everything about Indian Trusts Act 1882. A public trust is created for religious and charitable purposes or for community development. This trust cannot be used to transfer wealth to your beneficiary. No formal deed is required for creating a public trust. A private trust is used to transfer wealth to your heirs. These trusts have to be compulsorily created/registered and Governed under the Indian Trusts Act 1882.Your feedbacks and suggestions are always welcome to us.

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