TRUST PROPERTY TO SELL.

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This query is : Resolved

CA ANIL D. SARAF (Querist)

26 May 2008 A Charitable trust has got a building as donation from Mr. X. At the same time Mr. X's Son is having possession over the building. Till date he is having his possession. One of the object of the Trust is to provide home or to help in getting home to the members. X's Son is a member of the Trust.
The Trust has decided to Sell the property in AGM and it offers the same for Rs. 2,50,000/- to X's Son. He has accepted the proposal and paid Rs. 50,000/- as an advance to Trust.
How the Trust will take permission to sell from Charity Commissioner?

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)

02 October 2008 You have not said whether this is a public trust registered under Public trusts Act or a trust registered with the registrar. Please also clarify whether there is trust deed and what it says for property disposal.

CA ANIL D. SARAF

CA ANIL D. SARAF (Querist)

03 October 2008 Dear Sir,

Thanks for your interest in this Query.

As per your requirement I am sending herewith certain clarifications.

This is a Public Trust, Registered under Mumbai Public Trust Act since 1975. The Value of said property as on date is about Rs. 8,00,000/-.

In the Trust Deed there is no clause for disposal of property mentioned.

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