Trust related information
This query is : Resolved
04 September 2019
My client is a Trustee in one charitable trust. At now there is no activity in the trust. He said that the trust authority is given to some other party, who desire for activity and sell the charitable trust to some other party. Is it possible and yes then what is the procedure?
CA R SEETHARAMAN
(Expert)
04 September 2019
It's not possible to sell a charitable trust. It can only be donated to another charitable trust having the same charitable objects.
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Amol S Joglekar
(Expert)
04 September 2019
there is no any theme like SELLING of trust. Please ask your friend to give correct nomenclature
04 September 2019
so existing trustees will not ask for any consideration regarding trust?
Amol S Joglekar
(Expert)
04 September 2019
why should they? They are trustee and not partners/owners
Amol S Joglekar
(Expert)
04 September 2019
You are most welcome.
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