Trust

This query is : Resolved 
 


Querist : Anonymous (Querist)
13 February 2020

Sir... Good noon....
Can a trust purchase a school running under different trust... The old trustees will resign and new will be added.. school name will be changed... If yes, How to make the payment and will the seller trust accept the payment through Bank...


Raj Kumar Makkad (Expert)
13 February 2020

The Trust-deed can answer you question so far as right to sale or purchase is concerned. So far as accounting is concerned, you should contact to the chartered accountant.

kavksatyanarayana (Expert)
13 February 2020

Yes. If there is a clause in the Trust Deed that the Trust may with its funds buy any property for attaining the objects, then Trust may purchase School running under another trust. The consideration shall be noted in the new deed. Another trust may dissolve it as per their terms and conditions but it is not possible to purchase another trust.

R.K Nanda (Expert)
Click to Talk
14 February 2020

all depends upon terms and conditions of trust deed.

Advocate Suneel Moudgil (Expert)
15 February 2020

the trust deed is required

T. Kalaiselvan, Advocate (Expert)
Click to Talk
21 February 2020

In a trust all such things will be decided by the board of trustees as per the conditions and terms of the trust deed.
If there is any clause authorising such transactions to be made by the board members after passing a resolution to this effect, then there may not be any legal infirmity in it.



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