Trust Law
Trust law in India is mainly codified in the Indian Trusts Act of 1882, which came into force on March 1, 1882. It extends to the whole of India except for the state of Jammu and Kashmir and Andaman and Nicobar Islands. Indian law follows principles of English law in most areas of law, but the law of trusts is a notable exception. Indian law does not recognise "double ownership", and a beneficiary of trust property is not the equitable owner of the property in Indian law.
Read more about this topic: Indian Law
Famous quotes containing the words trust and/or law:
“Thy blood and virtue
Contend for empire in thee, and thy goodness
Share with thy birthright! Love all, trust a few,
Do wrong to none. Be able for thine enemy
Rather in power than use, and keep thy friend
Under thy own life’s key. Be checked for silence
But never taxed for speech.”
—William Shakespeare (1564–1616)
“In law it is a good policy to never plead what you need not, lest you oblige yourself to prove what you can not.”
—Abraham Lincoln (1809–1865)