REGISTRATION OF TRUST

Trusts play a key role in the Indian context as an important driver of intergovernmental negotiations. Such trusts undertake charitable activities related to public welfare such as providing medical help, education, and other basic needs for the underprivileged and so on. 

What is a Trust?

Indian Trust Act of 1882 defines a ‘Trust’ to be an arrangement where the trustor the owner transfers property to somebody else (the trustee) to benefit a third person, called the beneficiary 

Pre-requisites for registration of Trust:

• Name of the Trust
• Objectives of Trust
• Formation of Trust: A minimum of two trustees are required to form a trust.
• Formulate a Trust Deed or a Memorandum of Association (MOA) for your trust 

Documents for Trust Registration:

• Trust Deed on stamp paper– The value of the stamp paper is a certain percentage of the total property value belonging to the trust. The percentage differs from one state to another.
• Proof of Identity– Self-attested copies of ID proofs of the Trustor and the Trustees ( passport/voter ID/Aadhar Card/Driving license )
• Address Proof of Registered office– Property Registration certificate or utility bill copy ( water bill/electricity bill).
• No Objection Certificate (NOC) from the property owner – For rented property.
• Passport-sized photographs of the Trustor, the Trustees and the witnesses present while signing of the Deed.

 Registration of Trust :

• Submit trust deed with Xerox copies of the same signed by the settler on each page to the Local Registrar of the State where the Trust will operate.
• Trust deed should be submitted by the Settler and the Witnesses, who should have their original identity proof with them for verification by the Registrar.
• After processing, the Registered Deed is returned, while the Xerox copy is retained for record purposes. 

REGISTRATION OF SOCIETY

Societies are member-based organizations, operating under self-decided rules for governance by a committee elected by the members. Societies are registered under the Societies Registration Act, 1860.

 Registration of society is required to promote fine arts, science, literature, or knowledge sharing for a purposeful matter or for charity. On the other hand, society is also formed for the maintenance of a residential or commercial complex or for creating the Apartment Association.

Documents Required for registration:

• Memorandum of Association or MoA: The Memorandum of Association basically contains the name of the society, registered office address of the society, the area of its operations, and the objectives for which the society is established. 

• Bye-laws:The bye-laws of the society is considered as the constitution of the society and it contains the role and responsibilities of the Executive Committee members which includes its President, Vice President, Secretary, Joint Secretary and Treasurer. It also mentions the qualification of the members, eligibility, term and termination and all the other processes for the functioning of the society is mentioned in the bye-laws. 

• Proof of registered office - (rental agreement or ownership document)
• List of all the members like name, address, contact details, etc.
• PAN identification of all the members of the society
• Residence proof of members such as aadhar card/electricity bill/bank statement/gas bill etc
• Two witnesses

Society Registration process:

• Members: Minimum of seven members are required for registration of society in state.
• Jurisdiction: Where the registered office of the society is situated. Before the District Registrar in the particular area.
• Governing Act: The societies are governed by the Societies Registration Act, 1986.
• Property management: The property of the society vests in the name of the society and the same can be sold as per the terms mentioned in the bye-laws of the society. (e.g. approval from the Executive Committee Member).
• Dissolution or closure: Dissolution as per the bye-laws of the society, upon dissolution and after settlement of all debts and liabilities, the funds and property of the society may not be distributed among the members of the society, rather the remaining funds and property must be given or transferred to some other society, preferably one with similar objects.
• Board: Executive Committee (President, Secretary, Vice President, Treasurer), General Body (All members).
• Annual compliance: Societies must file annually, with the Registrar of Societies, a list of the names, addresses and occupations of their managing committee members.