charitable trust
This query is : Resolved
vanitha.B.
(Querist)
18 March 2011
can charitable trust purchase the immovable property from any other charitable trust?
What are all the procedure to be follow?
What are all the procedure to be follow?
RAMESH KUMAR VERMA
(Expert)
18 March 2011
An immovable property can be transfered to the Trust, either by way of settling the property through a Will or Deed or by way of donating the same to the existing Trust. In all the cases the instrument should be in writing and it should contain complete description of the property so as to clearly identify the property. The title of property should be clear to be transferable to the Trust. It should be free from mortgage and litigation. The instrument by which the immovable property is desired to be introduced to Trust is required to be registered, then only the property can be conveyed in favour of the Trust.
An intimation in the form of change report is required to be sent to the Charity Commissioner so as to record an entry in the P.T.Register. The entry in this record is conclusive evidence that the particular immovable property belongs to the Trust. This record contains description and location of the property and the area of the property. This entry in the P.T. Register is necessary for the reason that if in future the said property is desired to be alienated (sold) by the Trust, such an entry is a prerequisite.
https://www.rbi.org.in/scripts/ECMUserView.aspx?Id=68&CatID=11
https://www.karmayog.com/formation.htm
An intimation in the form of change report is required to be sent to the Charity Commissioner so as to record an entry in the P.T.Register. The entry in this record is conclusive evidence that the particular immovable property belongs to the Trust. This record contains description and location of the property and the area of the property. This entry in the P.T. Register is necessary for the reason that if in future the said property is desired to be alienated (sold) by the Trust, such an entry is a prerequisite.
https://www.rbi.org.in/scripts/ECMUserView.aspx?Id=68&CatID=11
https://www.karmayog.com/formation.htm
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