Deed of Family Trust (India) by OLL
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Deed of Family Trust
This Deed of Trust made at.......................... this.......................... day of................ between (1)......................... (2)............................... (3)....................... (4).................... (5)................................ (6).................... (7)..................... all of..................... hereinafter referred to as the SETTLORS of the One Part and (I)................ (2)................... (3)..................... hereinafter referred to as the Trustees of the other part.
WHEREAS
1. The settlors are the erstwhile members of a Joint family consisting of..............,.............. &............. as brothers and the remaining............. to............. as their respective sons and grandsons, all being majors and they are the only members of the family apart from their respective wives.
2. The said Joint Family owns an ancestral House together with the land apartment in village/town of................. in Dist............ in State of.........................
3. ................,............... &............... and their respective sons and grandsons are living separate at different Towns/Cities and earning in their own way independently and have their respective properties
4. The said Family House is the only common property belonging to the said family
5. The said house cannot be physically divided and partitioned and the parties also do not propose to do so nor do the settlers desire to sell the same but desire to keep and preserve it as a common unit and as a memorial of the ancestors and also to avoid any dispute regarding the same among the members of the said family.
6. The said family has a family Deity of Goddess............... and the family has installed the same in one of the rooms of the said house.
7. The Settlers have therefore proposed to dedicate the said house and premises to the said Deity and to continue to worship the same and with these objects they have decided to create a private Trust of the said property.
8. The Settlers have also collected a Fund of Rs............... as the initial fund or Corpus to meet the expenses of maintaining the said house and to worship the said idol.
9. It is proposed that...........,...........,..........., will act as the first Trustees of the Trust and the settlers have proposed to transfer the said property to...........,........... &........... as Trustees to hold the property for the benefit of the said family in the manner aforesaid.
NOW this Deed witnesseth that pursuant to the said desire of the settlers and in the premises aforesaid the settlers do and each of them doth hereby grant and transfer the said house with the land appurtenant thereto situate at........... and more particularly described in the Schedule hereunder written and all the rights liberties, privileges and easements appurtenant to the said house and the land and all the estate right, title and interest of the settlers in or to the said property hereby granted unto the Trustees and also transfer the Fund of Rs............ Collected by the settlers TO HOLD the same to the use of and on the terms
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This document is a template for a Deed of Family Trust used to dedicate an ancestral home and a common fund to the maintenance of a family deity and the preservation of the property. It outlines the responsibilities of the trustees in managing the trust fund, arranging religious worship, and maintaining the house for the temporary stay of family members.
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About this template
What is this template?
This document is a private trust deed for the management of ancestral assets and religious worship. It contains specific provisions for the appointment of a Pujari and the right of family members to reside in the property for up to one month. It is not a public charitable trust or a simple partition deed.
When should you use it?
Use this when a family intends to keep an ancestral property within the bloodline rather than selling or dividing it. Use a Partition Deed instead if the goal is to split the property among individual members.
What's inside
| Clause | Name | What it does |
|---|---|---|
| 2 | Trust Objects | Obliges the Trustees to protect, preserve, and worship the Goddess idol, including the appointment of a Pujari for daily rituals. |
| 3 | Trust Fund Investment | Requires Trustees to invest the initial Fund of Rs [amount] and family contributions into authorized securities to fund property maintenance. |
| 7 | Family Use of Property | Permits any family member to stay in the house free of charge for a period not exceeding one month continuously. |
| 9 | Restrictions on Transfer | Prohibits Trustees from selling, mortgaging, or letting out any portion of the ancestral house property. |
| 11 | Appointment of Trustees | Fixes the number of Trustees between three and five, requiring all future appointments to be made from within the family. |
| 16 | Managing Trustee | Designates the senior-most Trustee as manager and requires majority approval for any expenditure exceeding Rs [amount]. |
Who it's for
- members of an Indian Joint Family seeking to preserve an ancestral home as a memorial
- families wishing to dedicate a common property to a family deity through a private trust
- joint owners of an ancestral house that cannot be physically divided or partitioned
How long it runs and how it's signed
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