Indian Trusts Act, 1882

Bare Act · 1882

An Act to define and amend the law relating to Private Trusts and Trustees. Preamble.--.

In the syllabus of: Bihar Civil Judge · J&K Civil Judge · Telangana Higher Judiciary · UP Civil Judge · UP Higher Judiciary · Uttarakhand Civil Judge · West Bengal Civil Judge

Act number: 2 of 1882
Enacted: 13 January 1882
Contents: 97 sections · 10 chapters

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Contents

Chapter I — Preliminary

Chapter II — Of The Creation Of Trusts

Section 4 – Lawful purpose
Section 5 – Trust of immoveable property
Section 6 – Creation of trust (preview)
Section 7 – Who may create trusts (preview)
Section 8 – Subject of trust (preview)
Section 9 – Who may be beneficiary (preview)
Section 10 – Who may be trustee (preview)

Chapter III — Of The Duties And Liabilities Of Trustees

Section 11 – Trustee to execute trust (preview)
Section 12 – Trustee to inform himself of state of trust-property (preview)
Section 13 – Trustee to protect title to trust-property (preview)
Section 14 – Trustee not to set up title adverse to beneficiary (preview)
Section 15 – Care required from trustee (preview)
Section 16 – Conversion of perishable property (preview)
Section 17 – Trustee to be impartial (preview)
Section 18 – Trustee to prevent waste (preview)
Section 19 – Accounts and information (preview)
Section 20 – Investment of trust-money (preview)
Section 20A – Power to purchase redeemable stock at a premium (preview)
Section 21 – Mortgage of land pledged to Government under Act 26 of 1871 (preview)
Section 22 – Sale by trustee directed to sell within specified time (preview)
Section 23 – Liability for breach of trust (preview)
Section 24 – No set-off allowed to trustee (preview)
Section 25 – Non-liability for predecessor’s default (preview)
Section 26 – Non-liability for co-trustee’s default (preview)
Section 27 – Several liability of co-trustees (preview)
Section 28 – Non-liability of trustee paying without notice of transfer by beneficiary (preview)
Section 29 – Liability of trustee where beneficiary’s interest is forfeited to the Government (preview)
Section 30 – Indemnity of trustees (preview)

Chapter IV — Of The Rights And Powers Of Trustees

Section 31 – Right to title-deed (preview)
Section 32 – Right to reimbursement of expenses (preview)
Section 33 – Right to indemnity from gainer by breach of trust (preview)
Section 34 – Right to apply to Court for opinion in management of trust -property (preview)
Section 35 – Right to settlement of accounts (preview)
Section 36 – General authority of trustee (preview)
Section 37 – Power to sell in lots, and either by public auction or private contract (preview)
Section 38 – Power to sell under special conditions (preview)
Section 39 – Power to convey (preview)
Section 40 – Power to vary investments (preview)
Section 41 – Power to apply property of minors, etc., for their maintenance, etc (preview)
Section 42 – Power to give receipts (preview)
Section 43 – Power to compound, etc (preview)
Section 44 – Power to several trustees of whom one disclaims or dies (preview)
Section 45 – Suspension of trustee’s powers by decree (preview)

Chapter V — Of The Disabilities Of Trustees

Section 46 – Trustee cannot renounce after acceptance (preview)
Section 47 – Trustee cannot delegate (preview)
Section 48 – Co-trustees cannot act singly (preview)
Section 49 – Control of discretionary power (preview)
Section 50 – Trustee may not charge for services (preview)
Section 51 – Trustee may not use trust-property for his own profit (preview)
Section 52 – Trustee for sale or his agent may not buy (preview)
Section 53 – Trustee may not buy beneficiary’s interest without permission (preview)
Section 54 – Co-trustees may not lend to one of themselves (preview)

Chapter VI — Of The Rights And Liabilities Of The Beneficiary

Section 55 – Rights to rents and profits (preview)
Section 56 – Right to specific execution (preview)
Section 58 – Right to transfer beneficial interest (preview)
Section 59 – Right to sue for execution of trust (preview)
Section 60 – Right to proper trustees (preview)
Section 61 – Right to compel to any act of duty (preview)
Section 62 – Wrongful purchase by trustee (preview)
Section 63 – Following trust-property into the hands of third persons; into that into which it has been converted (preview)
Section 64 – Saving of rights of certain transferees (preview)
Section 65 – Acquisition by trustee of trust-property wrongfully converted (preview)
Section 66 – Right in case of blended property (preview)
Section 67 – Wrongful employment by partner-trustee of trust property for partnership purposes (preview)
Section 68 – Liability of beneficiary joining in breach of trust (preview)
Section 69 – Rights and liabilities of beneficiary’s transferee (preview)

Sections

Section 57 – Right to inspect and take copies of instrument of trust, accounts, etc (preview)

Chapter VII — Of Vacating The Office Of Trustee

Section 70 – Office how vacated (preview)
Section 71 – Discharge of trustee (preview)
Section 72 – Petition to be discharged from trust (preview)
Section 73 – Appointment of new trustees on death, etc (preview)
Section 74 – Appointment by Court (preview)
Section 75 – Vesting of trust-property in new trustees (preview)
Section 76 – Survival of trust (preview)

Chapter VIII — Of The Extinction Of Trusts

Section 77 – Trust how extinguished (preview)
Section 78 – Revocation of trust (preview)
Section 79 – Revocation not to defeat what trustees have duly done (preview)

Chapter IX — Ofcertain Obligations In The Nature Of Trusts

Section 80 – Where obligation in nature of trust is created (preview)
Section 81 – [Repealed.] (preview)
Section 82 – [Repealed.] (preview)
Section 83 – Trust incapable of execution or executed without exhausting trust -property (preview)
Section 84 – Transfer for illegal purpose (preview)
Section 85 – Bequest for illegal purpose (preview)
Section 86 – Transfer pursuant to rescindable contract (preview)
Section 87 – Debtor becoming creditor’s representative (preview)
Section 88 – Advantage gained by fiduciary (preview)
Section 89 – Advantage gained by exercise of undue influence (preview)
Section 90 – Advantage gained by qualified owner (preview)
Section 91 – Property acquired with notice of existing contract (preview)
Section 92 – Purchase by person contracting to buy property to be held on trust (preview)
Section 93 – Advantage secretly gained by one of several compounding creditors (preview)
Section 94 – Repealed (preview)
Section 95 – Obligor’s duties, liabilities and disabilities (preview)
Section 96 – Saving of rights of bona fide purchasers (preview)