Trust - Indian Laws - General

Meaning of the word Trust As per Concise Oxford English Dictionary (Eleventh Edition) the word Trust means : An arrangement whereby a person (a trustee) holds property as its nominal owner for the good of one or more beneficiaries. An organisation managed by Trustees. As per P. Ramanatha Aiyer s The Law Lexicon 2nd Edition the term Trust means An obligation annexed to the ownership of property, and arising out of a confidence reposed in and accepted by the owner, or declared and accepted by him, for the benefit of another, or of another and the owner. As per Black s Law Dictionary (Eight Edition) the term Trust means The right, enforceable solely in equity, to the beneficial enjoyment of property to which another person holds the legal title, a property interest held by one person (the trustee) at the request of another (the settlor) for the benefit of a third party (the beneficiary). ABRAHAM MEMORIAL EDUCATIONAL TRUST VERSUS C. SURESH BABU - 2012 (8) TMI 1192 - MADRAS HIGH COURT As per Section 3 of the Indian Trusts Act, 1882 . A trust is an obligation annexed to the ownership of property, and arising out of a confidence reposed in and accepted by the owner, or declared and accepted by him, for the benefit of another, or of another and the owner: