Indian Trusts Act, 1882
[Act No. 2 of Year 1882]
| Content | |
| Sections | Particulars |
| Chapter I | Preliminary |
| 1 | Short title and commencement |
| 2 | Repeal of enactments |
| 3 | Interpretation clause- "trust" |
| Chapter II | The Creation Of Trusts |
| 4 | Lawful purpose |
| 5 | Trust of immovable property |
| 6 | Creation of trust |
| 7 | Who may create trusts |
| 8 | Subject matter of trust |
| 9 | Who may be beneficiary |
| 10 | Who may be trustee |
| Chapter III | The Duties And Liabilities Of Trustees |
| 11 | Trustee to execute trust |
| 12 | Trustee to inform himself of state of trust-property |
| 13 | Trustee to protect title to trust-property |
| 14 | Trustee not to set up title adverse to beneficiary |
| 15 | Care required from trustee |
| 16 | Conversion of perishable property |
| 17 | Trustee to be impartial |
| 18 | Trustee to prevent waste |
| 19 | Accounts and information |
| 20 | Investment of trust-money |
| 20A | Power to purchase redeemable stock at a premium |
| 21 | Mortgage of land Pledged to government under Act 26 of 1871-Deposit in government savings bank |
| 22 | Sale by trustee directed to sell within specified time |
| 23 | Liability for breach of trust |
| 24 | No set-off allowed to trustee |
| 25 | Non-liability for predecessor's default |
| 26 | Non-liability for co-trustee's default |
| 27 | Several liability of co-trustees |
| 28 | Non-liability of trustee paying without notice of transfer by beneficiary |
| 29 | Liability of trustee where beneficiary's interest is forfeited to the government |
| 30 | Indemnity of trustees |
| Chapter IV | The Rights And Powers Of Trustees |
| 31 | Right to title deed |
| 32 | Right to reimbursement of expenses |
| 33 | Right to indemnity from gainer by breach of trust |
| 34 | Right to apply to court for opinion in management of trust-property |
| 35 | Right to settlement of accounts |
| 36 | General authority of trustee |
| 37 | Power to sell in lots and either by public auction or private contract |
| 38 | Power to sell under special conditions-Power to buy-in and re-sell |
| 39 | Power to convey |
| 40 | Power to vary investments |
| 41 | Power to apply property of minors, etc. for their maintenance, etc. |
| 42 | Power to give receipts |
| 43 | Power to compound, etc. |
| 44 | Power to several trustees of whom one disclaims or dies |
| 45 | Suspension of trustee's powers by decree |
| Chapter V | The Disabilities Of Trustees |
| 46 | Trustee cannot renounce after acceptance |
| 47 | Trustee cannot delegate |
| 48 | Co-trustees cannot act singly |
| 49 | Control of discretionary power |
| 50 | Trustee may not charge for services |
| 51 | Trustee may not use trust property for his own profit |
| 52 | Trustee for sale or his agent may not buy |
| 53 | Trustee may not buy beneficiary's interest without permission |
| 54 | Co-trustees may not lend to one of themselves |
| Chapter VI | The Rights And Liabilities Of The Beneficiary |
| 55 | Rights to rents and profits |
| 56 | Right to specific execution |
| 57 | Right to inspect and take copies of instrument of trust, accounts, etc. |
| 58 | Right to transfer beneficial interest |
| 59 | Right to sue for execution of trust |
| 60 | Right to proper trustees |
| 61 | Right to compel to any act of duty |
| 62 | Wrongful purchase by trustee |
| 63 | Following trust property-into the hands of third persons; into that into which it has been converted |
| 64 | Saving of rights of certain transferees |
| 65 | Acquisition by trustee of trust-property wrongfully converted |
| 66 | Right in case of blended property |
| 67 | Wrongful employment by partner-trustee of trust-property for partnership purposes |
| 68 | Liability of beneficiary joining in breach of trust |
| 69 | Rights and liabilities of beneficiary's transferee |
| Chapter VII | Vacating The Office Of Trustee |
| 70 | Office how vacated |
| 71 | Discharge of trustee |
| 72 | Petition to be discharged from trust |
| 73 | Appointment of new trustees on death, etc. |
| 74 | Appointment by court |
| 75 | Vesting of trust-property in new trustees |
| 76 | Survival of trust |
| Chapter VIII | The Extinction Of Trusts |
| 77 | Trust how extinguished |
| 78 | Revocation of trust |
| 79 | Revocation not to defeat what trustees have duly done |
| Chapter IX | Certain Obligations In The Nature Of Trusts |
| 80 | Where obligation in nature of trust is created |
| 81 | Where it does not appear that transferor intended to dispose of beneficial interest |
| 82 | Transfer to one for consideration paid by another |
| 83 | Trust incapable of execution or executed without exhausting trust-property |
| 84 | Transfer for illegal purpose |
| 85 | Bequest for illegal purpose |
| 86 | Transfer pursuant to rescindable contract |
| 87 | Debtor becoming creditor's representative |
| 88 | Advantage gained by fiduciary |
| 89 | Advantage gained by exercise of undue influence |
| 90 | Advantage gained by qualified owner |
| 91 | Property acquired with notice of existing contract |
| 92 | Purchase by person contracting to buy property to be held on trust |
| 93 | Advantage secretly gained by one of several compounding creditors |
| 94 | Constructive trusts in cases not expressly provided for |
| 95 | Obligor's duties, liabilities and disabilities |
| 96 | Saving of rights of bona fide purchasers |
| The Schedule | |
| Footnotes | |
An Act to define and amend the law relating to private trusts and trustees
Whereas it is expedient to define and amend the law relating to private trusts and trustees; it is hereby enacted as follows:-