Trust

Querist : Anonymous (Querist) 13 February 2020 This query is : Resolved
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...

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Quick Summary

This discussion addresses whether one trust can purchase a school currently operated by a different trust. Key considerations include the trust deed's clauses regarding property acquisition, the process for trustee changes, and potential school name alterations. Advice suggests consulting the trust deed for sale/purchase rights and a chartered accountant for financial and accounting matters.

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) 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) 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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