Formation of trust for maintenance of a property without transferring the property to the trust
abhishek nagar
(Querist) 18 November 2014
This query is : Resolved
Sir/ Madam,
I wish to know whether can i create a trust (private or public) to maintain a certain immovable property (Temple) which do not belong to any of the members(devotees) of the trust, the property is in the name of a person who is alive but do not wishes to transfer it to the trust and such property cannot be transferred to the trust in future too. Can such a trust be created by vesting Monetary asset (like Cash/ Bank Balance) for the purpose of maintenance of the immovable property? If yes, than can we (devotees) invite donations to such a trust for the maintenance of the temple?
Devajyoti Barman
(Expert) 19 November 2014
Unless the property is bested in trust, no such trust should be formed.
Technically it is possible to form trust to maintain a temple but the temple exclusively belong to an individual the Trust proposed to be formed shall not have any control over it nor it can manage its affair exclusively making the trust a paper organisation.
Rajendra K Goyal
(Expert) 19 November 2014
The trust can be formed but it may not succeed in its motto till it has the cooperation of the owner of the temple / temple transferred to the trust.
T. Kalaiselvan, Advocate
(Expert) 19 November 2014
There will be no validity of the trust without the assets being transferred on the trust name.
