Deed of Trust (India) by OLL
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DEED OF TRUST OF ______________ TRUST
THIS DEED OF TRUST made at _______ this day of _______ 2014 BETWEEN _________________ residing at ____________ __________ hereinafter called "the Settlor" (which expression shall unless it is repugnant to the context or meaning thereof be deemed to include his heirs, executors and/or administrators) of the One Part AND (1) -------------------- residing at _____________ AND (2) ------------------ residing at ________________, hereinafter called "the Trustees" (which expression shall unless it be repugnant to the context or meaning thereof be deemed to include the survivors of survivor of them and the heirs, executors and administrators of the last survivor and the trustees or trustee for the time being of these presents, their, his or her assigns) of the Other Part;
(i) WHEREAS the Settlor is seized and absolutely possessed, inter alia, of an amount of Rs._________/- (Rupees ___________________ only) in cash;
(ii) WHEREAS out of natural love and affection which the Settlor bears towards the beneficiaries (i) ___________________ and (ii) _________________ who are the (relationship) of the Settlor, the Settlor is desirous of settling a sum of Rs._____/- (Rupees _____________ only) upon and subject to the trusts, powers, provisions, agreements and declarations hereinafter declared and contained of and concerning the same and the Settlor has requested the Trustees to act as the Trustees thereof, which the Trustees have consented to do (as is testified by their being parties to and executing this Deed);
AND WHEREAS in pursuance of the said desire the Settlor has, prior to the execution hereof, handed over cash of Rs.5,000/- (Rupees five thousand) and a cheque for Rs. _________/- (Rupees ________________ only) to the Trustees and the Trustees have accepted and taken possession of the same and they shall hold the said amount upon the Trusts and with and subject to the powers and provisions hereinafter declared and contained;
NOW THIS DEED OF TRUST WITNESSETH as follows:-
1. The Settlor _________________________has conveyed, transferred and assigned to the Trustees the said amount of Rs. 5,000/- (Rupees five thousand only) in cash and Rs. _________/- (Rupees ______________________ only) by cheque.
2. The Trust shall be known as "..................." but it may hold assets or carry on business in any suitable name.
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This document is a template for a Deed of Trust, designed to establish a private trust for specified beneficiaries. It outlines the transfer of assets from a Settlor to Trustees and details the powers of management, investment, and distribution of income for the maintenance and education of beneficiaries.
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About this template
What is this template?
This document is a formal deed of trust for creating a private trust under Indian law and a prospectus for an elderly care facility. It is not a public charitable trust deed and does not contain tax-exempt status clauses. It contains specific financial thresholds, such as a Rs. 60,000 annual deduction from residential deposits.
When should you use it?
Use this when establishing a private trust for family members or setting up the rules for a residential home for the elderly. Use a Charitable Trust Deed instead if seeking Section 8 or 12A registration for public tax-exempt activities in India.
What's inside
| Clause | Name | What it does |
|---|---|---|
| 1 | Settlement of Trust Property | The Settlor transfers a specific initial sum of Rs. 5,000 in cash plus a cheque amount to the Trustees. |
| 4(c) | Trust Beneficiaries and Distribution | Trustees must close accounts annually on 31st March and distribute net income to beneficiaries based on specified percentage shares. |
| 5(d) | Determination of Trust | The trust terminates when the younger beneficiary reaches a specified age or at the Trustees' earlier absolute discretion. |
| 8 | Powers of Trustees | Trustees are granted specific authorities to open bank accounts, borrow money, and enter into partnerships or joint ventures. |
| 11 | Irrevocability | The trust is declared irrevocable and expressly prohibits any trust funds from being paid or lent back to the Settlor. |
| 14 | Number of Trustees | The document mandates that the number of active trustees must remain between a minimum of two and a maximum of seven. |
Who it's for
- an individual in India wishing to settle cash assets for the maintenance of specific family members
- organisations establishing a residential old age home facility with defined entry fees and refund policies
- trustees requiring broad powers to manage commercial activities and property investments for a private trust
How long it runs and how it's signed
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