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Home > Business Law > Trust Law
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Extinction & Revocation Of Trusts
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A trust gets extinguished under four circumstances:(1) when its purpose is completely fulfilled (2) when its purpose becomes unlawful (3) when the fulfillment of its purpose becomes impossible by destruction of the trust property or otherwise (4) when the trust being revocable is expressly revoked.
 
REVOCATION OF A PRIVATE TRUST
 
The trust created by will can be revoked at the pleasure of the testator that is, author of the trust who has by his will envisaged the trust. Atrust created otherwise can be revoked only in following 3 circumstances:
  1. by the consent of all the beneficiaries if they are of the age of majority and of sound mind and are as well not disqualified by any law
  2. by exercising power of revocation if it is expressly reserved for the author of the trust
  3. at the pleasure of the author of the trust if the trust is for the payment of the debts of the author of the trust and it has not been communicated to the creditors. But no trust can be revoked by the author of the trust so as to defeat or prejudice the acts duly done by the trustees in the execution of trust.
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Creation and Functioning of Trust
Private,Public and Religious Trusts
Private Trust
Trustee/Beneficiary Of A Private Trust
Modes Of Creating A Private Trust
Trust Property
Trustee Of A Private Trust- Rights And Powers
Breach Of Trust
Reimbursement of Expenses And Over-Payment
Removal of The Trustee
Transfer Of Trust Property By The Beneficiary
Documents And Accounts Of Trust Property
Discharge Of A Trustee
Appointment Of A New Trustee
Extinction & Revocation Of Trusts
Public, Charitable and Religious Trusts
Religious Trusts
Wakf
Tax Exemptions
Incomes Not Exempted
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