Corpstore Business Solutions offers best services in Trust registration in Madurai and Karur. Trust registration in India can be done by the Trust Act, 1882. It is a transfer of property by the owner to another for the benefit of a third person along with the declaration by the owner, to hold the property not for himself and another.
In India, majority of the Trusts are registered as public charitable trust and it is a form of not-for-profit entity. Public Charitable Trusts can be established for a number of purposes, including the social service, education, healthcare, provision of facilities for recreation, and any other object of general public welfare.
A trust is basically a medium under which the property is transferred from the original owner and held by the person to whom it is transferred for the benefit of another. Author of the trust, trustee, beneficiary, trust-property, beneficial interest and instrument of trust are the essential elements of trust. A trust can be created for only lawful purpose.
The trust deed is the primary document of the trust which states the reason for forming a trust, its functions, to its working, and until its closure. The Following are the important clauses in the Trust Deed: