Difference Between Public and Private Trust Registration In India

1. DIFFERENCE BETWEEN PUBLIC AND PRIVATE TRUST REGISTRATION IN INDIA Aspect Public Trust Private Trust Governed by laws enacted by the state where established. Governed by the Indian Trust Act, 1882. Legislative Governance Known and specific beneficiaries, usually relatives, friends, or relatives of the trustor. Uncertain, many, and not specifically known. Beneficiaries Handled by a few appointed or managing trustees. Trusteeship Handled by a board of trustees. Usually more permanent and accorded preference over private trusts. Usually of a more temporary character Duration and Preference Compulsory registration for immovable property; desirable for movable property for exemption from taxes Registration is not required, even in the case of immovable property. Registration Requirements Revocable, Irrevocable Discretionary, and Irrevocable Non-discretionary. Types of Trusts Charitable and Religious. Assets do not automatically pass to other entities; dependent on legal documents like wills. Distribution of Assets After Death Assets pass to heirs in the absence of a will. Created for the benefit of the public as a whole. Established for the benefit of private individuals. Purpose and Scope Norms are private; only beneficiaries, lawyers, and the trustor have access. Transparency and Inspection Open for inspection; anyone can scrutinise the management and purpose. Contact SKMC Global For Trust Registration In India info@skmcglobal.com www.skmcglobal.com +91 989-125-5499