One stop for all your legal solutions. Mylegalroute offers the best services on time.Highly recommended.
The first step is to draft the Trust deed. Trust deed is non mandatory but is desired as it is enforceable by law. The following details should be mentioned in Deed:
Three parties are required to form the Trust.
Applicant /Author Of The Trust
A person who is going to be benefitted by the formation of trust. Usually, Author himself is the Beneficiary or it is public at large.
Trust can be formed for charitable purposes only. The detailed objective of Trust shall be incorporated indeed.
The subject matter of the trust is the property in respect of which the trust has been created. The subject matter shall be defined and property of trust shall be capable of disposition to create a valid trust.
After preparation of Trust now another step is to register the Trust deed. Registration is not compulsory but is needed to get the trust registered under the Income Tax Act for availing the exemptions and more over a deed is a prima facie evidence of the existence of a trust. The trust deed shall be submitted to the local registrar along with the one photocopy and settler shall sign all the pages.
For certified copy of MOA & RR for a registered society a fees of Rs.1/- per page will be charged. Application to this effect should contain the Name, Reg. No and must be signed by the General Secretary or the President of the society. After approval for registration, a fee of Rs 50/- in cash is charged. The Registrar of Society on satisfaction of documents Issue a Registration Certificate to the Society.
Trusts are registered using a document called TRUST DEED. This document contains all the information about the Trust. Along with these papers you would need to attach a Non-Judicial stamp paper. All the Trustees and witnesses will have to signatures on the Trust Deed.