What is Trust?

A trust can be made by completing a trust deed; the trusts are of two types. A private trust which is created for the benefit of an individual also know as a beneficiary or particular group and the second one is a public trust also known as charitable trust is created or made for the benefit of the general public.

The first and foremost step to register a trust starts from drafting a good trust deed. IT is important that any trust deed is to be created on appropriate non-judicial stamp paper, every state has its rate of stamp duty. The second step is to book an appointment based on the registered office of the trust jurisdiction with the sub-registrar office, along with the government registration fee.

As per the appointed date assigned by the sub-registrar all trustees along with trust deed need to be present with two witnesses. It takes approx. two weeks for the registration process by the office of the sub-registrar, after that collect Registered deed can be collected. The third and most important step is to get the PAN Number and TAN Number allotted for the trust and then you can open a Bank A/c with any bank for your registered trust.

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