A trust in most distinct form of Non Government Organization /Non Profit Organization (NGO / NPO), a trust is created by specifying an immovable or immovable property for any charitable purpose .The person who denote property or money for trust is called creator. Trust may be formed for specified beneficiaries or society or a section of society.
Trust is work under a Board of Trustees manage the matters of trust, the board oversee incomes, expenditures and all other affairs of the trust.
There are two types of trust Private and Public. When the intention of the trust is to function for benefits of a group of individuals their descendants or for any legal person, who is capable of holding property, it is a private trust.
If trust is established for the benefits of society or the specific section of society then it is called public trust.
Trust is established under Trust Act, 1882. Trusts Act 1882 does not cover Wuqf created under Muslim Wuqf or Wuqf under Islamic Jurisprudence.
Process of Trust Registration in Pakistan
Law does not specify minimum value of property to form a trust.
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