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Trust

{An arrangement where a person legally holds the property on behalf of another for their benefit}

takes around 10 days; currently available in Delhi/ NCR 

29500 onwards (including GST; applicable statutory/ government fees extra)

A Trust is an arrangement under which property (both movable & immovable) is transferred from the original owner and held by the person to whom it is transferred for the benefit of another. A trust can be created for any lawful purpose.

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Features

  • controlled by Indian Trust Act
  • for benefit of specific individual
  • minimum 2 trustees
  • controlled by trust deed
  • for charitable/ religious activity
  • any lawful purpose
  • managed by trustees
  • generally is irrevocable

Package Inclusions

application for creation of trust

drafting of trust Deed

registration of trust

statutory fees

Documents required

  • 2 latest passport size photographs of author & trustee(s)
  • signed trust deed by author & trustee(s)
  • copy of self-attested PAN card of author & trustee(s)
  • copy of Address Proof (Voter Id, Passport, Driving License, Aadhar Card) of author & trustee(s)
  • copy of Mobile bill, telephone bill, electricity bill or Bank Statement of every author & trustee(s) with present address
  • registered office address proof - Electricity Bill/Telephone Bill/other utility bill along with Rent Agreement/ ownership proof of proposed registered office
  • NOC from landlord (we will provide the format)

Registration process

The process of registration of trust will take around 10 days depending upon the correct and proper documents received and time taken by the sub Registrar to register the Trust. We will start the process once we receive the payment and correct documents. Once registration is complete, we will send you all the documents including certified trust deed. In case of trust, physical presence of author is required at the time of registration of trust.

A Comparison- Trust & Society 

Basis of Difference

Trust

Society

Legislation

Indian trust act  1882. Societies Registration Act 1860.
Meaning Person creating the trust assigns property to the trust for benefit of another. Group of persons who come together for an purpose relating to charity welfare etc,with no move to earn profit.
Minimum no. of member 2 7
Goverance Boards of  Trusties. Governing Body
Control Centerlized vested with creator of trust. Domocratic;vested with governing body.
Fundamental Document Trust deed MOA & Rules/Regulations.
Tenure Trustee usually holds office for whole life. Member hold  office for term as per governing rules.
Family members Can be trustless Generally not permitted to the members.

Note :-

  • Timeline starts from receipt of complete and accurate documents/ information
  • Timeline is subject to time taken by sub registrar to register the trust
  • For every extra member over 7, charges will be INR 2,000 extra per member
  • Stamp duty varies from state to state
  • Extra charges will apply for an early turnaround