In Amritsar, a trust is a corporation that acts as a trustee or agent of trusts and agencies. A trust company may be independently owned or owned by an entity which specializes in being a trustee of several kinds of trusts.

A trust is a legal agreement where owner of trust transfer the property to a trustee along with the declaration of that the property should be held by the trustee for the beneficiaries of the trust.

The object of the trust is to ensure the flawless transfer of the trustor’s assets among the beneficiaries as per the clauses mentioned in the trust deed.

A trustee, selected by the owner, is liable for administering the Trust & finally distributing his/her assets to the designated beneficiaries selected by the owner when the Trust is set up. Heir, family members, or charity are some common beneficiaries of the Trust in India.

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