A – Trust is a legal entity setup by the people who decide to commit themselves to setting aside some of their income or their assets for charitable cause. An application to register a trust should be made to the sub registrar having jurisdiction over the region in which the trust is sought to be registered.
Before you register a trust below information must be ready with you.
(a) Name of the trust
(b) Address of the trust
(c) Objects of the trust (charitable or Religious)
(d) One settler of the trust
(e) Two trustees of the trust
(f) Property of the trust-movable or immovable property (normally a small amount of cash/cheque is given to be the initial property of the trust, in order to save on the stamp duty).
2. Prepare a Trust Deed on stamp paper of the requisite value (8% of the
value of property of the trust in Delhi. The rate varies from state to state)
3. Requirement for registration of Trust Deed with the Local Registrar under the Indian Trusts Act, 1882:
(a) Trust Deed on stamp paper of requisite value (as stated on point no.2 above)
(b) One passport size photograph & copy of the proof of identity of the settler
(c) One passport size photograph & copy of the proof of identity of each of the two trustees.
(d) One passport size photograph & copy of the proof of identity of each of the two witnesses.
(e) Signature of settler on all the pages of the Trust Deed
(f) Witness by two persons on the Trust Deed.
4. Make personal visit to the sub registrar & submit the Trust Deed along with one Photocopy for registration. The photocopy of the Deed should also
contain the signature of settler on all the pages. At the time of registration, the settler & two witnesses are required to be present in person and also remember to carry original identity proof.
5.The Registrar retains the photocopy & returns the original registered copy of the Trust Deed.