Charitable Trust - Law Dictionary Search Results
Home Dictionary Name: charitable trustCharitable trust
Charitable trust, A charitable trust can either be created by a grant for an express purpose or a grant having been made in favour of an individual or a class of individuals, that individual or that class of individuals might, after obtaining the grant, create a charitable trust, Bihar State Board Religious Trust, Patna v. Mahanth Sri Biseshwar Das, (1971) 1 SCC 574: (1971) 3 SCR 680: AIR 1971 SC 2057....
charitable trust
charitable trust see trust ...
trust
trust 1 a : a fiduciary relationship in which one party holds legal title to another's property for the benefit of a party who holds equitable title to the property b : an entity resulting from the establishment of such a relationship see also beneficiary, cestui que trust, corpus declaration of trust at declaration, principal, settlor NOTE: Trusts developed out of the old English use. The traditional requirements of a trust are a named beneficiary and trustee (who may be the settlor), an identified res, or property, to be transferred to the trustee and constitute the principal of the trust, and delivery of the res to the trustee with the intent to create a trust. Not all relationships labeled as trusts have all of these characteristics, however. Trusts are often created for their advantageous tax treatment. accumulation trust : a trust in which principal and income are allowed to accumulate rather than being paid out NOTE: Accumulation trusts are disfavored and often restricted...
Charitable uses and trusts
Charitable uses and trusts. 9 Geo. 2, c. 26, commonly called 'The Mortmain Act,' 1735, after reciting that ifts or alienations of land in mortmain (see MORTMAIN) were prohibited by Magna Charta and other whole-some laws as prejudicial to the common utility, and that such public mischief had greatly increased by many large and improvident dispositions, made by languishing or dying persons to charitable uses, to take place after their deaths to the disherison of their lawful heirs, enacted that no lands or other hereditaments whatsoever, nor money, or personal estate to be laid out in land should be given to any person or bodies corporate, or charged by any person in trust, for any charitable uses, unless such gift, etc., should be made by deed (thus entirely excluding gifts by will) executed twelve months before the death of the donor and be enrolled in the court of Chancery within six calendar months after execution, and be without any power of revocation for the benefit of the donor.T...
Charities, or Public Trusts
Charities, or Public Trusts. One of the earliest fruits of the Emperor Constantine's zeal, or pretended zeal, for Christianity, was a permission to his subjects to bequeath their property to the Church. This permission was soon abused to so great a degree as to induce the Emperor Valentinian to enact to Mortmain Act by which it was restrained. But this restraint was gradually relaxed; and in the time of Justinian it became a fixed maxim of civil law that legacies to pious uses (which included all legacies destined to works of charity, whether they related to spiritual or temporal concerns) were entitled to peculiar favour, and to be deemed privileged testaments.Lord Thurlow was clearly of opinion that the doctrine of charities grew up from the civil law; and Lord Eldon, in assenting to that opinion, has judiciously remarked, that at an early period that ordinary had the power to apply a portion of every man's personal estate to charity; and when afterwards the statute compelled a distr...
Trust
Trust, is a comprehensive expression, as covering not only the relationship of trustee and beneficiary but also that a bailor and bailee master and servant pledger and pledgee, guardian and ward and all other relations which postulate the existence of fiduciary relationship between the complainant and the accused, State v. K.P. Jain, (1983) 2 Crimes 947 (All).Trust, is a trust for public purposes, the substances and primary intention of the creator must be seen, Shabbir Husain v. Ashiq Husain, AIR 1929 Oudh 225.Trust, is an obligation annexed to ownership. A trustee holds property 'subject' to an obligation, which the testator has imposed upon him, Mahadeo Ramchandra v. Damodar Vishwanath, AIR 1957 Bom 218: (1957) 59 Bom LR 478.Means any arrangement whereby property is transferred with intention that it be administered for another's benefit is a trust. It casts an obligation on the trustee to use the property for achieving the purpose for which the trust is created, Baba Jamuna Das Mah...
Official trustees of charitable funds
Official trustees of charitable funds, officers of the Charity Commissioners appointed to hold stocks and securities belonging to charities: see (English) Charitable Trusts Act, 1853, s. 51; (English) Charitable Trusts Amendment Act, 1855, s. 18; (English) Charitable Trusts Act, 1887, s. 4....
Charitable purpose
Charitable purpose, includes relief of the poor, education, medical relief and the advancement of any other object of general public utility, but does not include a purpose which relates exclusively to religious teaching or worship. [Charitable Endow-ments Act, 1890 (6 of 1890), s. 2]Means relief of the poor, education, medical relief and the advancement of any other object of general public utility without the additive words 'not involving the carrying on of any activity for profit', Additional Commissioner of Income Tax v. Surat Art Silk Cloth Manufacturers Association, Surat, (1980) 2 SCR 77: (1980) 2 SCC 31: AIR 1980 SC 387.The definition of 'charitable purposes' in the West Bengal Estates Acquisition Act, 1953 follows, though not quite, the well-known definition of charity given by Lord Macnaghten in Commissioners for Special Purposes of Income Tax v. Pemsel, (1891) AC 531 (583), where four principal divisions were said to be comprised-trusts for the relief of poverty; trusts for ...
Cy-pres
Cy-pres (near to it). The principle of this doctrine of construction is, that where a testator hs two objects,one primary or general and the other secondary or particular, which are incompatible, the particular must be sacrificed in order that effect may be given to the general object, as near as may be to the testator' intention, according to law. Thus, where a testator has devised lands in a manner transgressing the rules of perpetuity and the Court can by giving the estates tail to the devisees, or any of them carry the property in the precise course marked out by the testator, supposing the estates left to themselves, it will do so, see Monypenny v. Dering, 16 M & W 418. The doctrine did not apply to personalty nor to a mixed fund. See Re Harwood, Coleman v. Innes, 1936 Ch 285.It is also applied to charitable bequests, and was formerly pushed to a most extra-vagant length. But this sensible distinction now prevails, that the court will not decree the execution of a charitable trust...
Charity Commissioners
Charity Commissioners. The Charity Commissio-ners for England and Wales are a body appointed under the provisions of the Charitable Trusts Acts, 1853 to 1925, and their powers and duties are to be found in these Acts. They exercise very extensive powers of management and control over charities, including power to authorize sales, exchanges, leases and mortgages of charity property; to frame new schemes where the original terms of the trust can no longer be literally or beneficially complied with; to investigate the accounts of charitable trusts; to sanction proceedings by the trustees and give them advice, and many other powers. There are, however, certain institutions exempted from their jurisdiction, e.g., certain universities and colleges, registered places of worship, and charities wholly supported by voluntary contributions; see s. 62 of the Act of 1853, the construction of which has given rise to great difficulties, and the judgment of Davey, L.J., in Re Clergy Orphan Corporation...
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