Bare Act Search Results

Indian Trusts Act, 1882 Chapter VI

Title: Of the Rights and Liabilities of the Beneficiary

State: Central

Year: 1882

.....and negotiable instruments in the hands of a bona fide holder to whom they have passed in circulation, or shall be deemed to affect the Indian Contract Act, 1872 (9 of 1872) section 108, or the liability of a person to whom a debt or charge is transferred. Section 65 - Acquisition by trustee of trust-property wrongfully converted Where a trustee wrongfully sells or otherwise transfers trust-property and afterwards himself becomes the owner of the property, the property again becomes subject lo the trust, notwithstanding any want of notice on the part of intervening transferees in good faith for consideration. Section 66 - Right in case of blended property 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. Section 67 - Wrongful employment by partner-trustee of trust-property for partnership purposes If a partner, being a trustee, wrongfully employs trust-property in the business or on the account of the partnership, no other partner is liable therefor in his personal capacity to the beneficiaries, unless he had notice of the breach of trust. The partners having.....

Indian Trusts Act, 1882 Section 63

Title: Following Trust-property into the Hands of Third Persons

State: Central

Year: 1882

Where trust-property conies into the hands of a third person is consistently with the trust, the beneficiary may require him to admit formally, or may institute a suit for a declaration, 'that the property is comprised in the trust. Into that into which it has been converted.--Where he trustee has disposed of trust-properly and the money or other property which he has received therefor can be traced in his hands, or the hands of his legal representative or legatee, the beneficiary has, in respect thereof, rights as nearly as may be the same as his rights in respect of the original trust-property. Illustrations (a) A, a trustee for B of Rs.10,000, wrongfully invests the Rs.10,000 in the purchase of certain land. B is entitled to the land. (b) A, a trustee, wrongfully purchases land in his own name, partly with his own money, partly with money subject to a trust for . B is entitled to a charge on the land for the amount of the trust-money so misemployed.

Trusts Act, 1882 Complete Act

State: Central

Year: 1882

.....known it, or when information of the fact is given to or obtained by his agent, under the circumstances mentioned in the section 229 Indian Contract Act, 1872 (9 of 1872)-, ; and all expressions used herein and defined in the Indian Contract Act, 1872 (expressions defined in Act 9 of 1872), shall be deemed to have the meanings respectively attributed to them by that Act. SECTION 04: LAWFUL PURPOSE. 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 or property of another, or (e) the Court regards it as immoral or opposed to public policy. Every trust of which the purpose is unlawful is void. And where a trust is created for two purposes, of which one is lawful and the other unlawful, and the two purposes, cannot be separated, the whole trust is void. SECTION 05: TRUST OF IMMOVABLE PROPERTY No trust in relation to immoveable property is valid unless declared by a non-testamentary instrument in writing signed by the author of the trust or the.....