1. Yes. There is no legal restraint to act as Trustee which is often called Head Trustee.
2. No.
3. Yes.
4. Trust deed is a compulsorily registrable document.
5. All the parties to the Trust except the beneficiary need to sign the trust deed.
(1) Can a settlor of a trust deed be a Trustee? (2) Can a beneficiary be a trustee? (3) Can the settlor be a beneficiary? (4) Is it necessary for the Trust deed to be registered or an unregistered deed is adequate, more so for the purposes of IT Act? (5) Can the Trust deed be signed only by the settlor or should the trustees also sign the deed for registration?
1. Yes. There is no legal restraint to act as Trustee which is often called Head Trustee.
2. No.
3. Yes.
4. Trust deed is a compulsorily registrable document.
5. All the parties to the Trust except the beneficiary need to sign the trust deed.
Settlor can be trustee
2) trust deed should be registered
3) settlor can be a beneficiary of a trust but cannot be the single Beneficiary; otherwise, there would be no hope of having the trust in the first spot.
1. Yes, the Settlor of a trust can also be a trustee
2. yes, a Trustee can also be a Trust beneficiary. In fact, a majority of Trusts have a Trustee who is also a Trust beneficiary.
3. A settlor can be a beneficiary of a trust but cannot be the single Beneficiary; otherwise, there would be no hope of having the trust in the first spot.
4. The instrument if any, by which the Trust is declared, is called the instrument of Trust or Trust Deed. Section 5 of the Indian Trusts Act provides that a private Trust in relation to an immovable property must be created by a non-testamentary instrument in writing, signed by the author of the trust or the trustee. The Section 17 of the Indian Registration Act 1908 deals with the documents that are compulsory to be registered. As per section 17, in case a Trust is declared by a non-testamentary instrument, the registration of a trust is necessary. This registration would still be required, even if the instrument declaring the trust is exempt from registration under the Indian Registration Act.
5. A private trust in India is governed under the Indian Trusts Act, 1882 ("Trusts Act") and may be created by a trust deed. There are three parties to a trust - (i) the settlor, being the person who creates the trust; (ii) the beneficiary, for whose benefit the trust has been created and (iii) the trustee, who is appointed by the settlor to administer the trust.
1. Yes
2. Yes he can but not sole beneficiary
3. Yes but no sole
4. Yes
5. Some trust are Compulsorily registrable and some are not.
6. All should sign it
1. An Un-Registered Trust, is legally infructuous & invalid for all statutory purposes, which includes all futuristic Court disputes.
2. Trust has to be duly registered with the regional Charity Commissioners office. Minimum Two trustees signatories are required, who may be beneficiaries. Other Trustees may join in later as required.
I answer your questions in affirmative provided all clauses are embodied in Trust Deed.
The Trust Deed of a Trust is an Act itself for procedures and compliance of day to day affairs of the Trust.
Please read carefully the Trust Deed of your trust to find out all your questions satisfactorily.
Settlor of a trust can also be a trustee.
Yes, Trustee can also be a Beneficiary of a Trust.
Yes, settlor can be a beneficiary of a trust but cannot be the single Beneficiary.
Trust declared by a non-testamentary instrument, the registration of a trust is necessary.
Settlor alone and/or trustees can sign deed
1. Yes
2. No
3. No
4. Yes it is mandatory to register a trust deed.
5. Trustees must sign the trust deed for registration.
(1) Yes,a settlor of a trust deed be a Trustee.
(2) Yes, a beneficiary be a trustee.
(3) Yes , a settlor can be a beneficiary of a trust but cannot be the single Beneficiary;
(4) No, registration of the Trust deed is not mandatory .
(5) Both can sign
settlor is the person who creates and funds the trust. The trustee is appointed by the settlor to administer the trust. The same person can perform both of these jobs or different people can act as settlor and trustee. Trustee can also be a Trust beneficiary.