Trusts: Nature and Its Kind

The origin of Trusts can be traced back to the ancient times when human motivation
to do charity and dedicate property for charitable and religious purposes found its
manifestation in the form of dharmashalas, annachatras, sadavarts, educational and
medical institutions, construction of water tanks and wells, bathing ghats, implanting
trees etc. with the emergence of idol worship, endowments for temples and idols came
into existence. In addition to public endowments/wakfs, private trusts can also be
formed for looking after the welfare, age, illness, disability or any other reason.
Trust fetters the rights of an owner of property by fastening an obligation on the
owner which he is required to comply with. Ownership of property ordinarily carries
with it all rights of ownership, and the owner is free to do whatever he can lawfully do
with the property or the income from the property. If, however, the property is
impressed with a trust the owner is no longer at the liberty to deal with the property as
he pleases; he must do what the trust enjoins him to do and he can be called to
account if he fails to do so.
Usually a trust is created by a settler transferring his property to a trustee for the
benefit of a specified person or a for a specified purpose; he may also do so by a will.
The imposition of a trust does not mean that the owner ceases to be an owner. He is,
and remains, the owner and can assert his rights of ownership. He must however, deal
with the property or the income from the property as he is required by the terms of the
trust to do.
The research methodology used by the authors is primarily doctrinal in nature and
uses primary sources such as case laws and also secondary sources such as books and
internet articles. The citation method used is 19th Howard Blue Book edition.
The scope of the paper is to understand the nature and kinds of trusts with a deeper
insight into case laws as decided by the Indian Supreme Court.

Chapters:
INTRODUCTION
CHAPTER 1: UNDERSTANDING TRUSTS
CHAPTER 2: CLASSIFICATION OF TRUSTS
CONCLUSION
BIBLIOGRAPHY