Property in the nature of school and its assets
ajithkumar.t
(Querist) 21 December 2011
This query is : Resolved
Sir,
An aided school owned by eight family members governed by a WILL dt in the year 1976.
Now some four members out of this eight are in need of money and are willing to even sell the school. But other four do not like to sell it off.
Now the question is.
Since four persons require money urgently Is there any way to raise money for them by selling their own shares in the school. If so How, and how the school can be run and under which governing documents.
WILL, or Trust etc.
Please answer.
ajay sethi
(Expert) 21 December 2011
eas probate obtained of will . ?is private trust running school?
ajithkumar.t
(Querist) 21 December 2011
Sir,
Your answer to the question is not clear.The school is owned by 8 persons as per registered WILL in 1976 and one of the eight persons is named as School manager and correspondent.Based on the above WILL only the school functions. And no other pvt trust is there. Please answer by reading the original question also.
Raj Kumar Makkad
(Expert) 22 December 2011
Your similar query raised on today has already been duly replied and resolved, You can get the requisite reply thre-from.
Dr J C Vashista
(Expert) 24 December 2011
Has the Will obtained probate from the Court? till then the will is not executed.
In case the school is run by a trust then get it registered with competent authority.
