Trust deed

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Trust deed

A trust deed is a formal legal instrument that gives effect to the desires of the author of the trust, who reposes confidence in a person for executing the trust deed known as a trustee and lastly the person or persons for whom such confidence is accepted may be called the beneficiary. The property that is the subject matter to be minutely described in the Trust deed is the Trust-Property. Trusts are then categorized into two parts majorly for creation of a deed:

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Frequently Asked Questions

The donor on requisite stamp paper should sign the deed. It must be attested by at least two witnesses; the donee should accept the gift.

Gift of movable property, may or may not be registered. But the delivery of the property and acceptance of it is essential

No. When you give someone a Power of Attorney, you still have the right to control your money and property. However, you are giving your agent the ability to access your money. Your agent is not supposed to take or use your money without your permission, but there is a risk that a dishonest or unscrupulous agent might steal your money. It is therefore important to choose an agent you trust. You must go over the agent's duties before you sign your power of attorney.

A legal document that removes a previous claim or lien on an asset. A deed of release is usually issued once a mortgage or other type of debt, previously secured against the asset, has been paid in full.

Any person above the age of 18 years and mentally sound may execute Will, but a Will caused by fraud or coercion or by importunately will not be valid and can be examined by a competent civil court. Therefore, a Will must be executed voluntarily.

Parents or guardians cannot execute Will on behalf of minors or lunatic children.

A Will must be attested by minimum of two witnesses is necessary.

A Scribe (deed writer / advocate) cannot be called witness because they have signed the Will in column of drafted by. Thus, two independent attesting witnesses other than the scribe are necessary.

A Beneficiary under a Will should not sign as attesting witness. In order to avoid disputes in the implementation of a Will, a description of the property and the name of the beneficiaries should be clearly written so that there is no room for doubt.

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