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The Act defines how the author of the trust could create a trust and assign trustees and assign his monetary assets to be controlled by the trust. This trust should have a clear definition of the following: * Intention by the author to create the trust * Purpose of the trust * The beneficiary of the monetary assets controlled by the trust * The monetary assets assigned to the trust for the purpose defined above * Grants control of the monetary assets to the trustee which can include the author of the trust In addition the act also explains trustees * have to be impartial * can not convert property and monetary assets to profitable property outside the limits of the purpose for which the trust was created * have to understand completely the statutes of the trust * can benefit from being the trustee by claiming expenses and salary from the trust for his work * can sometimes act singly if required * cannot breach the trust of the author or the purpose of the trust In addition investments of a trust if found to be against the law of the land can be the cause of dissolution of the trust and action can be taken against the trustSee also
* English trusts lawReferences
Wills and trusts 1882 in India 1882 in law {{India-law-stub