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The costs of every application under this section shall be in the discretion of the Court to which it is made.
Indian Trusts Act | National Portal of India
Bequest of which revocation is prevented by coercion. B is entitled to a charge on the land for the amount of the trust-money so misemployed.
B must account to A’s legal representative for the profits from A’s share of the capital. Where the trustee wrongfully mingles the trust-property with his own, the beneficiary is entitled to a charge on the whole fund for the amount due to him.
Indian Trusts Act, | Bare Acts | Law Library | AdvocateKhoj
Information about sections and amendments of the act is also given. Power to sell under special conditions Power to buy in and re-sell. Illustration a A conveys land to B without consideration and declares no trust of any part. B is answerable to C for the loss. Trustee to inform himself of state of pfd. B and C accordingly sell the property, and the purchase-money is received by B and retained in his hands.
The bills are dis-honoured. It cannot, consistently with the circumstances under which the transfer is made, be inferred that A intended to transfer the beneficial interest in Z.
Subject to the provisions of the 3 [ Registration Act, ], the trustee’s duty is to cause the instrument to be registered. Trustee may not buy beneficiary’s interest without permission. In each of these cases Dpwnload holds the land for the benefit of A. Z may indian trust act pdf download him, as partner, to account for so much of the profits as are derived from A’s share of the capital.
A trust is accepted by any words or acts of the trustee indicating with reasonable certainty such acceptance. Every person capable indian trust act pdf download holding property may be a trustee; but, where the trust involves the exercise of discretion, he cannot execute it unless indian trust act pdf download is competent to contract.
These rules do not apply where they would operate so as to effectuate a fraud.
Indian Trusts Act, 1882
Find indiqn on the Factoring Regulation Act, Property acquired with notice of existing contract. A holds the lakh for the benefit of the partnership. When property has been transferred or bequeathed for the benefit of a married woman, so that she shall not have power to deprive indian trust act pdf download of her beneficial interest, nothing in the second clause of this section applies to such property during her marriage.
The Official Trustee may, with his consent and by the order of the Court, be appointed under this section, in any indian trust act pdf download in which only one trustee is to be appointed and such trustee is to be the sole trustee.
Vesting of trust-property in new trustees. Following trust property-into the hands of third persons; into that into which it has been converted. Information on the Customs Amendment and Validation Act, which includes amendments in section 28 of the Customs Act, is provided.
Advantage gained by fiduciary.
Where property is bequeathed and the revocation of the bequest is prevented by coercion, the legatee must hold the property for the benefit of the testator’s legal representative.
The Indian trusts amendment bill of amended the act and removed some restrictions on investment of the monetary assets by pd trust in certain investments.
Information related to sections of the act, power indian trust act pdf download court to allow interest and interest payable under certain enactments is also given.
The rents are accordingly paid to B, and A leaves the money with B only till wanted. The act defines how the author of the indian trust act pdf download could doqnload a trust and assign trustees and assign his monetary assets to be controlled by the trust. Liability indian trust act pdf download trustee where beneficiary’s interest is forfeited to the government.
Revocation not to defeat what trustees have duly done. A trustee is bound to deal with the trust-property as carefully as a man of ordinary prudence would deal with such property if it were his own; and, in the absence of a contract to the contrary, a trustee so dealing is not responsible for the loss, destruction or deterioration of the trust-property.