gift to religious institution or trust

XYZ is a partnership owned by A 50% his son B 35% and A's mother C 15%

Now C is old and wants to write a WILL whereby after her death she wants to give her share in company XYZ to any religious instituion whereby the institution is entitled to the profit of the company and all rental income of the company.


1. Can  C do this arrangement

2. Will the religious institution be liable for losses too or can the will be worded in such a way where the Religious Trust is not liable for losses but only for share of profits.

3. Can C put a clause whereby the religious trust is not allowed to sell their share to anyone including A or B

4. In case the point no. 3 is a issue then can C put a condition that the religious instituion can sell the share only after fair valution of company is carried by two top chartered accounting firms whose cost will be paid by partnership firm.

Please give your valuable advice on the above




Your are not logged in . Please login to post replies

Click here to Login / Register  


  Search Forum


  LAWyersclubindia Menu

IPC Grand Course     |    x