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of <h1>Understanding Trusts: Key Roles, Obligations, and Breach of Trust Explained</h1> A trust is an obligation associated with property ownership, arising from confidence reposed in and accepted by the owner for the benefit of another or both the owner and another. The person who creates the trust is the 'author,' the one who accepts is the 'trustee,' and the one benefiting is the 'beneficiary.' The property involved is 'trust-property,' and the beneficiary's right is the 'beneficial interest.' A 'breach of trust' occurs when a trustee fails in their legal duties. 'Registered' refers to document registration under current laws, and 'notice' involves actual knowledge or negligence in acquiring knowledge. Terms are consistent with the Indian Contract Act, 1872.
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