The public’s trustNational trusts are intended to benefit the public on a vast scale, therefore their beneficiaries are the general public. Public trust can be divided into two categories: national and provincial. Trusts for public charities Trust for public religious purposes
A trust for private individualsIt is usually family members or individuals who are the beneficiaries of this type of trust. Private trusts are further classified into two types: Trusts in which recipients can also make imperative offers 2. Private trusts for which neither the recipients nor their imperative offers can be settled
Process of registering a trust in IndiaIn order to register a trust under “The Indian Trust Act, 1882”, the following documents are required:
- The bill of water or electricity mentions the address that needs to be registered.
- A minimum of two members of the entity must provide proof of their identity. This can be in the form of:
- License for driving
- Identification of voters
- Identification card based on Aadhaar
- Authentication of passports
- As per Indian Trust Act – 1882 norms, the trust registration online process takes around 8 to 10 days after you pay the registration fee.
- Legal documents are only valid across the country after the applicant makes a presentation at the corresponding registrar’s office.