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Bare Trust Deed

Bare Trust Deed Template for India

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Key Requirements PROMPT example:

Bare Trust Deed

"I need a Bare Trust Deed to transfer my residential property in Mumbai to my two adult children as beneficiaries, with my brother acting as trustee; the transfer should be completed by March 2025 and comply with Maharashtra state registration requirements."

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Document background
A Bare Trust Deed is essential when establishing a simple trust structure under Indian law where assets need to be legally held by trustees for beneficiaries who retain absolute beneficial ownership and control. This document is commonly used in family wealth planning, property holding arrangements, and situations requiring nominal ownership separation from beneficial ownership. The deed must comply with the Indian Trusts Act 1882 and related legislation, including registration requirements under the Registration Act 1908 when involving immovable property. It's particularly useful for straightforward trust arrangements where beneficiaries are adults with full capacity and want complete control over trust assets while maintaining legal title in trustees' names. The document typically includes detailed schedules of trust property, beneficiary rights, and trustee powers, though trustees' duties are minimal compared to discretionary or complex trusts.
Suggested Sections

1. Parties: Identifies the Settlor, Trustee(s), and Beneficiary(ies) with their full legal names and addresses

2. Background: Explains the context and intention to create a bare trust, including the settlor's wish to transfer assets to trustees to hold for beneficiaries

3. Definitions: Defines key terms used throughout the deed including 'Trust Property', 'Trust Period', 'Bare Trust', etc.

4. Declaration of Trust: Formal declaration creating the trust and specifying its bare trust nature

5. Trust Property: Describes the assets being placed in trust and confirms their transfer to the trustees

6. Trustee Powers and Duties: Specifies the limited role of trustees in a bare trust - holding legal title and acting on beneficiary instructions

7. Beneficiary Rights: Confirms absolute beneficial ownership and right of beneficiaries to direct trustees

8. Trust Period: Specifies the duration of the trust

9. Governing Law: Confirms the deed is governed by Indian law

10. Execution: Space for parties to execute the deed with witnesses

Optional Sections

1. Trustee Retirement and Appointment: Include when mechanism for trustee changes needs to be specified

2. Administrative Provisions: Include when specific administrative procedures need to be documented

3. Trustee Indemnity: Include when additional trustee protection is required beyond statutory provisions

4. Bank Mandate: Include when trust property includes bank accounts requiring specific management provisions

5. Minor Beneficiaries: Include when any beneficiaries are minors at trust creation

6. Dispute Resolution: Include when specific dispute resolution procedures are desired

Suggested Schedules

1. Schedule 1: Trust Property: Detailed inventory and description of all assets placed in trust

2. Schedule 2: Beneficiary Details: Full details of beneficiaries including shares/entitlements if multiple beneficiaries

3. Schedule 3: Trustee Powers: Comprehensive list of specific powers granted to trustees

4. Appendix A: Trust Property Transfer Documents: Copies of transfer documents for trust property

5. Appendix B: Consent Forms: Any required consent forms from relevant parties

6. Appendix C: ID Documentation: Copies of identification documents for all parties

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Wealth Management

Real Estate

Financial Services

Legal Services

Private Banking

Family Office Services

Estate Planning

Property Investment

Asset Management

Relevant Teams

Legal

Wealth Management

Trust Administration

Compliance

Private Banking

Estate Planning

Risk Management

Property Management

Financial Advisory

Relevant Roles

Trust Lawyer

Estate Planning Attorney

Wealth Manager

Private Banker

Tax Consultant

Trust Administrator

Legal Counsel

Property Manager

Financial Advisor

Trust Officer

Compliance Officer

Risk Manager

Industries
Indian Trusts Act, 1882: Primary legislation governing the formation, operation, and dissolution of trusts in India. Defines trust relationships, duties of trustees, beneficiary rights, and trust administration requirements.
Registration Act, 1908: Mandates registration requirements for trust deeds, especially when involving immovable property. Sections 17 and 18 specifically deal with registration of trust documents.
Transfer of Property Act, 1882: Governs the transfer of property rights, including transfer to trustees. Relevant for understanding how property can be legally transferred to and held in trust.
Income Tax Act, 1961: Contains provisions regarding taxation of trusts, including bare trusts. Sections 160-167 specifically deal with assessment of trusts and trustees.
Indian Stamp Act, 1899: Determines the stamp duty payable on trust deeds. The amount varies by state and the nature/value of trust property.
Indian Contract Act, 1872: Relevant for understanding general principles of contract law that may apply to the trust deed's execution and enforcement.
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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