A trust can be created by the execution of a trust deed; there are two types of trust. A public trust (charitable trust) is created for the benefit of the general public whereas a private trust is created for the benefit of a particular group of individuals known as the beneficiary.
NUMBER OF TRUSTEES:-
There is no upper limit for the trustees in a trust, but a minimum of two trustees are always required for registration.
DOCUMENTATION OF TRUST & TRUSTEES:-
- Trust Deed on Proper Stamp Value
- Adhar Card, 02 Photographs and mobile number of all trustees
- PAN Card of all trustees
- 01 Witness and his Adhaar Card & Mobile Number
- 01 Identifier (Sarpanch or Numberdar or MC) and his Adhaar Card/ID Card & Mobile Number
In the Punjab State, the sub-registrar i.e. Tehsildar is acted as an authority for the registration of Trust Deed.
Along with above said documents you need to contact any Advocate or Deed Writer. He will prepare your trust deed on relevant stamp paper and guide you about payment of registration fees. After that, you need to appear in the office of Tehsildar cum Sub-Registrar on the fixed day and time of appointment along with witness and identifier. The city/village of witness and identifier and the city/village of Trust must be the same, means they belong to same city/village. After the registration of Trust Deed, the original deed granted to an applicant and copy of deed keep in the official record.