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Trust Formation

PROCESS OF FORMATION OF TRUST

Formation of Charitable Trust

A charitable organization is ordinarily formed by way of the trust, or a company limited by guarantee under section 25 of the Companies Act, 1956 or a society under the Societies Registration Act, 1986. A trust can be oral but for recognition as a charitable institution, it should be in writing and conform to the provisions of the Indian Trust Act, 1882. A valid Trust has to have three certainties:

Property
Objects
Beneficiaries

A trust could be private trust or a public trust depending upon the beneficiaries, whether specified individuals or general public
The trust should have at least two trustees for formation of a trust;
The corpus of the trust should be identified;
Drafting of trust deed

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