Trust

sampad mohanty (Querist) 26 November 2012 This query is : Resolved
WE WANT TO FORM A TRUST FOR PURCHASE OF LAND AND CONSTRUCTION OF FLAT FOR OUR MEMBERS. IS IT POSSIBLE TO FORM A TRUST. IF YES THEN CAN A settlers SETTLER ALSO HELD FLAT WHICH WILL BE DONE BY THE TRUST

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Devajyoti Barman (Expert) 26 November 2012
As it appears to be a Private Trust , there would be no restrictions on the Settler to own trust if there is such provision in the trust deed.

R.K Nanda (Expert) 26 November 2012
depends on terms of TD. contact local lawyer.

Raj Kumar Makkad (Expert) 26 November 2012
It can be done as desired.

Raj Kumar Makkad (Expert) 26 November 2012
Formation of society have more benefits in such case rather of a trust.

sampad mohanty (Querist) 27 November 2012
Dear Mr. Makkad
First we want to form a society. But all the society members (staff of a organisation) now in a remote district (Karaput) and want to purchase land in the capital of a State (Bhubaneswar). So the problem is we can not wait for getting registration from IGR. So please help us whether can we registered a society in Karaput and purchase land in Bhubaneswar.

Raj Kumar Makkad (Expert) 27 November 2012
Yes. You can do as desired.

sampad mohanty (Querist) 27 November 2012
thank you all

Raj Kumar Makkad (Expert) 27 November 2012
Most welcome Mohanty.

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