1. Decide the following:
a) Name of the trust
b) Address of the trust
c) Objects of the trust (Charitable or Religious)
d) One settlor of the trust
e) Two trustees of the trust (minimum)
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. The rates of stamp duty varies from state to state. Kindly check the current rate of stamp duty applicable in your 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.
b) One passport size photograph & copy of the proof of identity of the settlor.
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 settlor on all the pages of the Trust Deed.
t) Witness by two persons on the Trust Deed.
4. Go to the local Registrar and submit the Trust Deed, along with one photocopy, for registration. The photocopy of the Deed should also contain the signature of settlor on all the pages. At the time of registration, the settlor and two witnesses are required to be personally present, along with their identity proof in the original.
5. The Registrar retains the photocopy and returns the original registered copy of the Trust Deed. |
