purchasing immovable propoerty of the trust

shital (Querist) 16 September 2010 This query is : Resolved
when trust sells some of its immovable asset, then in this case, who all are required to sign the deed of conveyance, where in the trust deed nowhere it has been mentioned that managing trustee can sell property of the trust on behalf of the trust.

The only clause mentioned in the trust deed is that managing trustee is accountable to trust for all the profit earned in the course of business of trust.

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Devajyoti Barman (Expert) 17 September 2010
All the trustees or the managing trustee with the consent of other trustees can sign the sale deed but without the permission of the court the trustee of public trust can not sell the trust property.

s.subramanian (Expert) 17 September 2010
First of all,the trust deed must contain the power of the trustees to sell the property. If there is no such power,the trustees cannot sell.Better look into the trut deed first and then decide.

Rajeev kulshreshtha (Expert) 17 September 2010
I do agree with Mr.Barman.

M/s. Y-not legal services (Expert) 17 September 2010
Yes. I agree with mr.barman

Chanchal Nag Chowdhury (Expert) 17 September 2010
Prior permission of the District Judge u/s 34 of the Trusts Act is a must.

Surrender K Singal (Expert) 17 September 2010
Is it a PUBLIC trust or family trust ?
Deed would provide the clue !

Sri Vijayan.A (Expert) 17 September 2010
You must see whether the trust is public or private.
It can be understood from the beneficiary, if beneficiary is private the trust is private.
If it is private, you have to go thru the trust deed, whether the properties are saleable, if so for what purpose on which event, by whom, by whose authorisation.

If the trust is private, permission from court is needed

shital (Querist) 18 September 2010
its a public trust. trustees are in the process of getting approval from charity commissioner under sec 34.

Thanks a lot

Sri Vijayan.A (Expert) 18 September 2010
A correction to my earlier post.
Please read the last sentence as follows:
If the trust is public, permission from court is needed.
Sorry for the inconvenience due to this typographical error

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