Registration of Trust and Societies

Trusts are a business structure created with noble intentions to promote the development of sciences, literature, and other worthy causes. They serve purposes such as alleviating scarcity, providing education to those in need, and offering medical support. Trust registration is officially registering a trust under the Trusts Act of 1882. This legal step ensures that the trust is recognized and operates within the framework of the law. Registering a trust provides legal validity and establishes its existence as a separate entity.

If you are contemplating the creation of a trust for non-profit or charitable purposes, trust registration is vital to ensure its effective operation and compliance with legal obligations. At Finitra Finnovation, we have a dedicated team of professionals ready to support you every step of the way during the trust registration process. Our aim is to provide you with a seamless and efficient experience.

Contact us today to discuss your trust registration needs and benefit from our expertise in establishing legally compliant and effective trusts.

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Overview

Individuals establish trusts to allocate a portion of their assets or property for the benefit of another person. A trust is a fiduciary relationship involving the trustor, trustee, and beneficiary. The involved parties are outlined in the trust deed when applying for trust registration.

A trust is established when the trustor transfers a specific asset or property to the trustee for the ultimate benefit of the beneficiary. The beneficiary, who is typically a third party, may have a connection to both the trustor and the trustee.

Therefore, the relationship between the parties involved is essential in defining trust. According to the Indian Trusts Act of 1882, a trust is defined as a "Relationship between the trustor and trustee to hold specific benefits for the beneficiary."