Legal liabilities of business
Is it possible for a married man to safeguard his assest before hand in case of divorce, or legal liabilities of business? Intention is to transfer the assest to legal heir (children) who will benefit ...
Is it possible for a married man to safeguard his assest before hand in case of divorce, or legal liabilities of business? Intention is to transfer the assest to legal heir (children) who will benefit ...
Dear Client,
A person can transfer his self-acquired property to anybody as per his choice, but courts may declare such transfers void if they are made with the intention to defraud the wife or the business's legal liabilities. If a transfer of property is made before filing a divorce petition with the intent to "defeat or delay" the legal claims of a spouse or business creditors, it can be declared fraudulent by a court once it is proven before the court. Instead, If an irrevocable living tru
I have two wheeler vechile but it's registered under my aunt name society not allowed parking in society giving reason that it's not registered in your or your family name I don't own other vechile al ...
Dear Client,
A registered owner of the flat/apartment and the vehicle in a Society can use the parking space allotted to them. A vehicle registered in the name other than registered member of the Society is generally not allowed to use the parking space allotted to resident member of the Society especially if a specific resolution is passed in this regard on majority of vote in a meeting of the Society following the provision of its byelaws. Hence, the action or response of the Society in the m
Society are charging high penalty for duck area was not filled by cement on time. However it was filled but after the due date. Also, from upper floor continuos water dripping was there. Now society a ...
Dear Client,
In the context, be informed that Bye Law No 172, 173, and 174 of Model Bye-Laws of Cooperative Housing Society deal with the redressal of complaints of a member of a society registered under the Maharashtra Co-operative Society Act, 1960. As per Bye Law No 174(a), complaints may be made to the Registrar of the Cooperative Societies, failing which disputes between the Members and/or the Members and Society, which falls under Section 91 of the MCS Act 1960 may be filed before the Coo
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I have a trust deed that says that any assets or earnings will be incorporated there after 15 years. Then it means the trust account can receive after 15 years. If there in the deed any such clauses m ...
Dear Client,
The Indian Trusts Act, 1882, states that a trust must be created for a lawful purpose. The purpose is considered unlawful if it is "immoral or opposed to public policy". An improvident trust that creates destitution could be deemed contrary to public policy, especially if it was a result of the settlor's vulnerability or dependence. Even a trust can be declared invalid if it is a "sham," where the settlor and trustee had a common intention to give a false impression of the rights a
I have a question if in the charitable trust deed it is said that the fd + interest is to be considered and immovable property is to be attached. But the trust deed is not registered , specifically th ...
Dear Client,
As per Section 17 of the Registration Act, 1908, the transfer of immovable property of a value Rs.100 and above through instruments like a Power of Attorney requires mandatory registration of the instruments to make the transfer legally valid and enforceable. Further, according to Section 49 of the Act, an unregistered document such as Trust Deed required to be registered under the Act is not admissible as an evidence of the transfer of an immovable property.
I have a question if in my trust deed there is a clause mentioned as my trustee ( HDFC) can fetch information from 3rd party or requisite agencies when I forgot to give my salary to the trust and they ...
Dear client,
It appears that under the terms of your executed Trust Deed, you have expressly consented to the Trustee (HDFC) obtaining or verifying information from third parties or requisite agencies in the event of your failure to remit salary or other contributions to the Trust. Such a clause amounts to contractual consent under Indian Contract Act, 1872, and would be enforceable, particularly as it relates to the administration and protection of the Trust corpus.
Since both your trustee a
Other Responses
If I enter a charitable trust where I intend to support education of village children and for that I commit to give all my movables and all income I receive every year. But later I want to amend after ...
Dear Client,
Charitable trusts are generally considered irrevocable once it is created and registered by the Settlor who losses the power to amend it if there exists no clause of amendment in the trust deed. In the absence of a clause of amendment or modification in the trust deed, the amendment requires to be done with the permission of a civil court. A resolution or amendment that alters the basic character of the trust will be considered invalid. A Civil Court will only allow amendments that
If I enter a charitable trust where I intend to support education of village children and for that I commit to give all my movables and all income I receive every year. But later I want to amend afte ...
Dear Client,
You intend to create a charitable trust to support the education of village children. In this trust deed, you propose to commit all your movable assets and your entire annual income to the trust. Later, if you face financial hardship, you wish to amend the trust so that only your movable assets are committed, while your income is retained for your own use. You are also proposing to make this trust irrevocable.
An irrevocable trust, once executed, means that the settlor (you) legal
Other Responses
If for modification of the terms of an registered/unregistered charitable trust court intervention is mandatory but if the settlor and the trustees say before the court that the terms are too harsh fo ...
Dear Client,
Charitable trusts are generally considered irrevocable once it is created and registered by the Settlor who losses the power to amend it if there exists no clause of amendment in the trust deed. In the absence of a clause of amendment or modification in the trust deed, the amendment requires to be done with the permission of a civil court. A resolution or amendment that alters the basic character of the trust will be considered invalid. A Civil Court will only allow amendments that
If I make say HDFC Bank my trustee and after destitution I start earning money by doing a corporate job. The employer has purchased insurance from HDFC Bank for his employee (me). Will HDFC Bank get ...
Dear Client,
Your query suffers from a lack of information and transparency to address it suitably. You expressed your situations that also contradict and mismatch each other, but did not provide a cause of action that attracts a legal remedy. This is a legal forum, where in the absence of logical details and a specific cause of action, suitable legal remedies cannot be provided based on the standalone situations/circumstances. So, please revert to us with logical details and a cause of action
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