• Trust act

Whether a settior of a trust can act as managing trustee of the same trust? plz answer
Asked 1 year ago in Civil Law from ottapalam, Kerala
settlor can act as managing trustee of the trust 
Ajay Sethi
Advocate, Mumbai
32533 Answers
1794 Consultations

5.0 on 5.0

If there is a provision in the trust deed to this effect then he can act as the managing trustee. The answer to this question lies in the trust deed itself. 
Ashish Davessar
Advocate, Jaipur
20453 Answers
542 Consultations

5.0 on 5.0

The bye laws of the trust will provide the answer for this question. 
If the bye laws approve the settlor to become a managing trustee, there is no legal infirmity in it.
T Kalaiselvan
Advocate, Vellore
22711 Answers
221 Consultations

5.0 on 5.0

1. Settler of the trust can be a manager of trust property as trustee. 

2. Such person has two distinct capacity 

3. a person can transfer his property to himself he he bears different capacity. 

4. Making of trust is an act of transfer of property.

5. Only living parson can transfer property.

6. property could be transferred from one capacity to another capacity. 

7.Section 5 of Transfer of property act validates this type of transfer. 
Shivendra Pratap Singh
Advocate, Lucknow
4026 Answers
57 Consultations

4.9 on 5.0

HI 
The settlor can be a managing trustee of the trust, provided there are other beneficiaries  and other trustees also 
The only situation which is not legally possible in trusts law is that in which the Settlor is the sole trustee holding the property for himself as sole beneficiary because all the rights to the trust property would be consolidated in a single person.
Rajgopalan Sripathi
Advocate, Hyderabad
1068 Answers
97 Consultations

5.0 on 5.0

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