India Private Trust Deed by Megadox

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									                                PRIVATE TRUST DEED

THIS INDENTURE made effective at ____________________________________ [location], as of the
_____ day of ______________________, _______.


                                     [NAME OF SETTLOR]
                                   an Indian Inhabitant of [city]

                                             - and -

                                     [NAME OF TRUSTEE]
                                   an Indian Inhabitant of [city]

WHEREAS Settlor being absolutely seized and possessed of, or otherwise well and sufficiently
entitled to, a sum of __________________________ Rupees (Rs. _________________) is desirous of
settling the said sum for the benefit of life interest for ___________________________ [name of
beneficiary] and thereafter for the ________________________________ [name of trust] Trust.

AND WHEREAS, at Settlor’s request, Trustee has agreed to act as the First Trustee of these presents,
as is testified to by his joining in and executing these presents.

AND WHEREAS Settlor has, prior to the execution of these presents, handed over to Trustee the said
sum of _________________________ Rupees (Rs.__________________) to be held by Trustee upon the
Trusts and with and subject to the powers, provisions, declarations and agreements hereinafter
contained of and concerning the same.

NOW THIS INDENTURE witnesseth as follows:

1.     In consideration of the natural affection Settlor bears toward Trustee, Settlor DOTH HEREBY
       CONFIRM AND DECLARE that he has transferred the right over the said sum of
       _____________________ Rupees (Rs.______________) to Trustee TO HAVE AND TO HOLD
       the same unto Trustee and the investments for the time being and from time to time
       representing the same for the use, purpose and benefit with, and subject to, the powers and
       provisions hereinafter declared and contained of and concerning the same.

2.     The name of the Trust shall be “_____________________________”.

3.     “Trust Fund” shall mean the said sum of ________________________ Rupees
       (Rs.______________) and, unless repugnant to the subject or context thereof, shall also include
       any other property that may be acquired by Trustee, or come to Trustee’s hands, by virtue of
       these presents or otherwise howsoever in relation to these presents, including, but not limited
       to, all gifts, either in cash or other properties movable or immovable or otherwise which may
       be received by Trustee from time to time for the purpose of these presents.

4.     The Trust Fund shall be distributed upon the death of Trustee or on the ___________ day of
       _________________________, ____________, whichever occurs earlier (hereinafter referred to
       as the “Distribution Date”).

5.    On the Distribution Date, Trustee (or Trustee’s heirs, successors or assigns) shall distribute,
      transfer  and     convey    the   Trust    Fund,     together    with    any    income,      to
      ___________________________ [name of trust}.

6.    It is hereby agreed and declared between the parties of these presents that Trustee shall hold
      and stand possessed of the Trust Fund and, subject to the powers, provisions, agreements
      and declarations hereinafter contained and concerning the same, and the income arising from
      the Trust Fund under or by virtue of the provisions of this Deed upon the Trust to receive the
      annual or other income of the Trust Fund and all other income arising under this Deed
      (income for this purpose being regarded as including capital gains referred to in the Income
      Tax Act), and in the first place to reimburse and or discharge any and all costs and expenses
      which may be incurred in or about the administration of the Trust of these presents,
      including, but not limited to, any government dues, income tax or wealth tax, or other taxes
      levied or revisable upon Trustee or upon any beneficiary or persons having interest in the
      corpus or in the income of the Trust Fund, ground rent, insurance premium, cost of ordinary
      repairs, salaries and wages of the servants and all other usual outgoing charges and expenses
      of, and incidental to, the provisions of the Trust Fund in respect of, or by reason of, such
      interest of such beneficiaries or persons and including also all outgoings and municipal or
      other rates, assessments and duties, and the cost of ordinary repairs of any immovable
      property forming part of the Trust Fund.

7.    After deduction of the expenses detailed in Section 6 above from the gross income of the
      Trust Fund, the net income from the Trust Fund shall be paid to
      ___________________________________, the beneficiary herein (hereinafter referred to as the
      “Beneficiary”), for his maintenance and residence during his lifetime. Trustee shall not be
      entitled or bound to ask the Beneficiary to give account for any amount so paid during his
      lifetime until his death.

8.    Upon the death of the Beneficiary, the entire income, together with corpus, shall be treated as
      the corpus of the ___________________________ [name of trust] (which was settled on the
      _________ day of _____________________, __________ by _______________________) and
      thereafter it shall be applied for the benefit of _________________________________ [name of
      trust]. In accordance with the provisions contained in the aforesaid Trust Deed dated the
      _________ day of _________________________, _____________.

9.    Trustee shall have the power to receive and accepts gifts and donations of any movable or
      immovable properties, and any such amounts as and when received shall form part of the
      Trust Fund.

10.   Trustee shall be entitled to invest all moneys liable and authorized in any one or more of the

      (a)     any of the modes authorized by the Indian Trust Act;

      (b)     movable properties, including, but not limited to, shares, debentures, bonds or
              securities of any joint stock company, corporation, Unit Trust of India or Mutual
              Funds or other institutions;

      (c)     deposits with banks, joint stock companies or partnership firms on such terms and
              conditions as Trustee, at its sole discretion, deems fit;

      (d)     the purchase of any immovable property, whether freehold or leasehold;

      (e)     granting of loans to individuals, firms, association of persons, joint stock companies
              or otherwise whatsoever;

      (f)     carrying on business, either by himself or in partnership or otherwise as Trustee
              deems fit, and close and restart any business, and utilize the profits derived
              therefrom for the objects aforesaid;

11.   Trustee shall have the power to vary, from time to time, the investments for others of the
      same, or of a like or different nature.

12.   Without affecting the generality of the powers, provisions and authorities vested in Trustee
      under these presents, Trustee shall have, in addition thereto and not as a substitution thereof,
      the following powers, and shall be entitled to execute all acts, documents and things
      necessary, ancillary or incidental thereto, to wit:

      (a)     to open and operate a bank account or bank accounts of the Trust in any bank(s) of
              repute, in the name of the Trust. All amounts received by way of dividends, interest,
              rent, profits or other income shall be credited to the said amounts;

      (b)     to borrow moneys or raise loans and funds required for any purpose, power or
              provisions, either directly or indirectly connected with the objects of this Trust, or for
              any object incidental to these presents;

      (c)     to draw, make, accept, endorse, discount, execute and/or issue promissory notes,
              bills of exchange and other negotiable instruments;

      (d)     to purchase, lease or sub-lease, or take-on on a leave and license basis, any co-
              operative schemes or any other arrangements, or, in exchange, hire or otherwise
              acquire or deal with or own any immovable or movable property and any rights,
              benefits or privileges which Trustee may deem necessary or convenient;

      (e)     to purchase on an ownership basis, or take on rent or compensation, residential flats,
              business premises, industrial sheds or factories, godowns or open plots of land, and
              let out the same, or give on a leave and license basis, or for compensation or
              warehousing charges or storage charges;

      (f)     to construct, develop, maintain and/or alter any buildings, structures, industrial
              estates, factories or works of any nature whatsoever necessary or convenient, or
              which Trustee, at his sole discretion, deems fit;

      (g)     to sell, improve, manage, develop, exchange, lease, mortgage, charge, pledge,
              hypothecate, dispose of, or deal with all or any part of the Trust Fund and premises
              hereby settled or any part(s) thereof;

      (h)     to organize agencies or offices, or to make any other arrangements necessary for
              conducting and managing the Trust, and to appoi
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