TRUST
- April 11, 2024
- Posted by: Administrator
- Category: Entity Registrations
In India, a trust is a legal entity that is created to hold and manage assets for the benefit of a specific group of people or a particular cause. Trusts are commonly used for philanthropic, charitable, or religious purposes, and they are governed by the Indian Trusts Act, 1882.
A trust may be created for any lawful purpose. The purpose of a trust is lawful unless it is (a) forbidden by law, or (b) is of such a nature that, if permitted, it would defeat the provisions of any law, or (c) is fraudulent, or (d) involves or implies injury to the person or property of another, or (e) the Court regards it as immoral or opposed to public policy. Every trust of which the purpose is unlawful is void. And where a trust is created for two purposes, of which one is lawful and the other unlawful, and the two purposes cannot be separated, the whole trust is void. Explanation.—In this section the expression “law” includes, where the trust-property is immoveable and situate in a foreign country, the law of such country.