Trust related information

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dikshant (Querist)
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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

CA R SEETHARAMAN (Expert)
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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

Amol S Joglekar (Expert)
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04 September 2019 there is no any theme like SELLING of trust. Please ask your friend to give correct nomenclature

dikshant

dikshant (Querist)
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04 September 2019 so existing trustees will not ask for any consideration regarding trust?

Amol S Joglekar

Amol S Joglekar (Expert)
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04 September 2019 why should they? They are trustee and not partners/owners

dikshant

dikshant (Querist)
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04 September 2019 ok. thanks

Amol S Joglekar

Amol S Joglekar (Expert)
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04 September 2019 You are most welcome.

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