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Resolution For Appointment Of New Trustee for India

Resolution For Appointment Of New Trustee Template for India

A formal legal document under Indian law that records and effectuates the appointment of a new trustee to an existing trust. The document is governed by the Indian Trusts Act, 1882, and relevant state trust laws, ensuring compliance with statutory requirements for trustee appointments. It contains essential details including the trust's particulars, reasons for the new appointment, details of the incoming trustee, and specific powers and responsibilities being conferred. The resolution serves as official evidence of the appointment and facilitates the transfer of trust responsibilities to the new trustee.

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Resolution For Appointment Of New Trustee

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What is a Resolution For Appointment Of New Trustee?

A Resolution For Appointment of New Trustee is a crucial document required when changes occur in trust administration in India. It is used when a new trustee needs to be appointed due to various circumstances such as death, retirement, or resignation of an existing trustee, or when additional trustees are required. The document must comply with the Indian Trusts Act, 1882, and any applicable state trust laws. It includes detailed information about the trust, the reason for appointment, credentials of the new trustee, and specific powers being granted. This resolution serves as legal evidence of the appointment and is often required by banks, property registrars, and other institutions to recognize the new trustee's authority. The document may need to be registered depending on state requirements and the nature of the trust property involved.

What sections should be included in a Resolution For Appointment Of New Trustee?

1. Title and Date: Formal title of the resolution and date of passing

2. Present Trustees: List of all current trustees present at the meeting

3. Recitals: Background information including trust deed details, reason for appointment, and authority for making the appointment

4. Definitions: Key terms used in the resolution

5. Resolution Statement: The formal resolution text appointing the new trustee

6. Details of New Trustee: Full name, address, and other relevant details of the newly appointed trustee

7. Powers and Duties: Statement of the powers and duties vested in the new trustee

8. Effective Date: Date from which the appointment takes effect

9. Execution: Space for signatures of existing trustees and acceptance by new trustee

What sections are optional to include in a Resolution For Appointment Of New Trustee?

1. Quorum Confirmation: Confirmation that the required quorum was present (needed when resolution is passed in a meeting)

2. Retiring Trustee Details: Details of any trustee being replaced (required if appointment is due to retirement/resignation)

3. Special Conditions: Any special conditions or restrictions on the appointment (if applicable)

4. Regulatory Compliance: Statements regarding compliance with specific regulations (needed for charitable/religious trusts)

5. Property Transfer Details: Details of trust property transfer to new trustee (if immediate transfer is involved)

What schedules should be included in a Resolution For Appointment Of New Trustee?

1. Schedule A - Identity Proof: Certified copies of identity documents of the new trustee

2. Schedule B - Consent Letter: Written consent from the new trustee accepting the appointment

3. Schedule C - Trust Deed Extract: Relevant extracts from the trust deed regarding trustee appointment

4. Schedule D - Retiring Trustee Documents: Resignation letter or death certificate of retiring trustee (if applicable)

5. Schedule E - Property Schedule: List of trust properties and assets being transferred to new trustee's control

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

India

Publisher

Ƶ

Document Type

Board Resolution

Cost

Free to use
Relevant legal definitions






























Clauses




















Relevant Industries

Financial Services

Charitable Organizations

Religious Institutions

Family Offices

Education

Healthcare

Real Estate

Non-Profit Organizations

Wealth Management

Corporate Trusts

Relevant Teams

Legal

Compliance

Trust Administration

Wealth Management

Corporate Secretarial

Risk Management

Property Management

Board Secretariat

Financial Advisory

Estate Planning

Relevant Roles

Trust Administrator

Legal Counsel

Company Secretary

Compliance Officer

Trust Manager

Wealth Manager

Estate Planning Attorney

Trust Operations Manager

Board Member

Trustee

Managing Trustee

Financial Advisor

Risk Manager

Property Manager

Industries






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