A builder-buyer agreement is a document which specifies the modalities, conditions and clauses between a builder and a homebuyer. The builder-buyer agreement contains clauses referring to the property in question, delivery information, and terms relating to default and late project delivery, among other things. At one point, delayed real estate projects affected the Indian real…
TRUST PROPERTY: Trust property refers to the asset or assets that the grantor or settler (the trust creator) transfers into the trust for the purpose of providing benefits to the beneficiary or beneficiaries (an individual, group of individuals or public) during his or her lifetime or on his or his death (the grantor’s death). Trust…
Concept of trustee Introduction Trust in legal point of view • Trustee – The person who creates the Trust. • Trustee – A person who accepts the responsibilities of the Trust. • Beneficiary – The person / persons of the beneficiary of the Trust. Who is a trustee Duties and liabilitiesThe Indian Trusts Act, 1882…
Meaning: A trust is an acceptance of an obligation by a person in against of some property or funds to use it or hold it for the benefit for the person whom the trust is created. The Indian Trust act is related to Private Trust and Trustees. The Indian Trusts Act is an Act related…
INTRODUCTION A trust may be created for any lawful purpose. The purpose of a trust is lawful unless it is (a) forbidden by law, or (b) is of such a nature that, if permitted, it would defeat the provisions of any law, or (c) is fraudulent, or (d) involves or implies injury to the person…
According to Indian Trust Act, trust means an obligation annexed to the ownership of property, & arising out of a confidence reposed in & accepted by the owner for the benefit of another or for another and owner. Or in other words, a trust is an acceptance of an obligation by a person in against…
Indian Trust Act 1882, makes provision for the extinction of trusts under section 77.78 and 79. Extinction of trust means termination of trust. Section 77 lays down 4 situations when a trust is extinguished: – When its purpose is completely fulfilled. When it becomes unlawful. When the fulfilment of its purpose becomes impossible by destruction…
INTRODUCTION Right to information Act ushered in a new era in making functioning of government and government-aided institutions transparent, accountable and responsive to the needs of the society at large. The basic object of the Right to Information Act (RTI) is to empower the citizens, promote transparency and accountability in the working of the Government,…
The biggest contribution of equity to the world is ‘Trust’, under its exclusive jurisdiction the trust is there. The common law was not in favor of trust while as equity favored trust. According to Maitland – “Trust is the most significant invention of equity. It is the most powerful experimentation when a person has right…
