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Section 83 – The Indian Trusts Act, 1882

The Indian Trusts Act, 1882

 

83. Trust incapable of execution or executed without exhausting trust-property

 

Where a trust is incapable of being executed, or where the trust is completely executed without exhausting the trust-property, the trustee, in the absence of a direction to the contrary, must hold the trust property, or so much thereof as is unexhausted, for the benefit of the author of the trust or his legal representative.

 

Illustrations

 

(a) A conveys certain land to B. –

 

Upon trust”, and no trust declared; or

 

Upon trust to be thereafter declared”, and no such declaration is ever made; or upon trusts that are too vague to be executed; or

 

Upon trust that become incapable of taking effect; or

 

“In trust for C’, and C renounces his interest under the trust.

 

In each of these cases B holds the land for the benefit of A.

 

(b) A transfers Rs. 10,000 at the four per cent to B, in trusts to pay the interest annually accruing due to C for her life. A dies. Then C dies. B holds the fund for the benefit of A’s legal representative.

 

(c) A conveys land to B upon trust to sell it and apply one moiety of the proceeds for certain charitable purposes, and the other for the maintenance of the worship of an idol. B sells the land, but the charitable purposes wholly fail, and the maintenance of the worship does not exhaust the second moiety of the proceeds. B holds the first moiety and the part unapplied for the second moiety for the benefit of A or his legal representative.

 

(d) A bequest Rs. 10,000 to B, to be laid out, in buying land to be conveyed for purposes which either wholly or partially fail to take effect. B holds for the benefit of A’s legal representative the undisposed of interest in the money or land if purchased.

 

 

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The Indian Trusts Act, 1882

 

Indian Laws – Bare Acts

 

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