Establishing a trust is a meaningful way to contribute to social welfare, education, or charitable initiatives. In Bihar, trust registration is governed by the Indian Trusts Act, 1882, and follows a structured legal process. This guide provides a step-by-step overview of how to register a trust in Bihar, including key requirements, documents, and compliance tips.
Understanding a Trust
A trust is a legal entity created for the benefit of individuals, a community, or the public at large. The settlor (owner) transfers property to trustees, who manage it according to the objectives outlined in the trust deed. The trustees are responsible for ensuring that the trust’s resources are used solely for the intended beneficiaries.
Steps to Register a Trust in Bihar
1. Choose Trustees
Select reliable and responsible individuals to act as trustees. At least two trustees are generally required for registration.
2. Draft a Trust Deed
Prepare a trust deed detailing:
Name of the trust
Objectives and goals
Registered office address in Bihar
Names and roles of trustees
The trust deed serves as the foundation document governing the trust’s operations.
3. Stamping and Notarization
The trust deed must be printed on non-judicial stamp paper of appropriate value (as per the Stamp Act) and notarized by a registered notary public.
4. Application for Registration
Submit the trust deed along with the application for registration to the Deputy Registrar or Sub-Registrar where the trust’s registered office is located.
5. Documents Required
Two copies of the trust deed
Affidavits from the trustees
Passport-sized photographs of trustees
Identity and address proofs of trustees
Proof of registered office address
6. Payment of Fees
Pay the prescribed registration fee, which may vary based on the value of the trust property or state-specific regulations.
7. Verification and Approval
The Deputy Registrar or Sub-Registrar will verify the documents and scrutinize the application. Upon compliance with all legal requirements, the trust registration certificate will be issued.
Key Points to Remember
Naming the Trust: Select a unique name that does not resemble any existing registered trust.
Trustees’ Eligibility: Trustees should be of sound mind, not legally disqualified, and willing to act in the trust’s best interest.
Compliance with Laws: Ensure adherence to all legal requirements and regulations under the Indian Trusts Act to avoid discrepancies.
Conclusion
Registering a trust in Bihar is a systematic and legally governed process. By following the steps outlined above, individuals can establish a legally recognized trust to contribute meaningfully to societal welfare, education, or charitable causes.
It is advisable to seek professional or legal assistance to navigate the registration process efficiently and ensure compliance with all statutory requirements.
Note: Trust registration laws and procedures may be updated from time to time. Always consult legal experts or authorities for the latest guidance before initiating registration.