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TRUST

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Trust

What Is Trust?

In general, a trust is a relationship in which one person holds title to property, subject to an obligation to keep or use the property for the benefit of another. A trust is formed under state law. You may wish to consult the law of the state in which the organization is organized. Note that for a trust to qualify under section 501(c)(3) of the Code, its organizing document must contain certain language

They are Two Type of Trust :

Understanding Trust:
For Formation of trust it is necessary to understand the following elements essential to form a trust:

- Three Parties: Author of Trust, Trustee and the beneficiary.

- Subject matter of the trust

- Objects of the Trust

- Trusts Deed


Charitable Trust :

A public charitable or religious institution can be formed either as a Trust or as a Society or as a Companyregistered u/s 25 of the Companies Act. It generally takes the form of a trust when it is formed primarily by one or more persons. To form a Society at least seven persons are required. Institutions engaged in promotion of art, culture, commerce etc. are often registered as non-profit companies.

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Trust

Trust

- Understanding Trust
- Charitable Trust