Can an educational society sell its property?

Can an educational society sell its property?

Society not to acquire or sell or transfer… immovable property without prior permission of Registrar: No immovable property shall be acquired or transferred by sale, gift or otherwise by the society without the prior permission of the Registrar in…

Can I sell a property without registration?

Stamp duty and registration charges are paid to the govt and the property is registered in the name of the owner. Without registration, a buyer has no legal right over the property so, one cannot sell it to anyone under the Transfer of Property Rights Act.

Who owns a registered society?

Registered societies are corporate bodies with their own legal personality. Their members’ liability for the society’s debts is limited to the amount they contributed on becoming a member.

Can a society do business?

This form of organization is certainly inappropriate for operations that need to be carried out for profit motive. This is because a society can function only for a charitable purpose. No system of equity investment or ownership exists for societies.

What is the best type of trust?

Here are the most common types of trusts:

  • Livings Trusts. A living trust is usually created by the grantor, during the grantor’s lifetime, through a transfer of property to a trustee.
  • Testamentary Trusts.
  • Irrevocable Life Insurance Trust.
  • Charitable Remainder Trust.

Can two NGOs have same name?

But as for NGO Registration Trust under Indian Trust Act the NGO can be registered with the same and similar name with that name/words any NGO is already registered previously in any jurisdiction or in the same jurisdiction or under the same Registrar/Sub Registrar.

How many members should be in an NGO?

An NGO Board usually has 10 to 15 members, with a President, a Treasurer and other positions designated to specific tasks/issues related to the NGO’s programme areas. The member positions could be rotating and/or renewable.

Who is the owner of NGO?

Next comes the Executive Director, who may also be called by other names such as Coordinator, Chief Operating Officer, or CEO. He or she is responsible for the overall direction in which the NGO moves, and the responsibility for managing the day-to-day activities of the NGO.

Can I run an NGO without registration?

If you want to involve yourself in social service then you can do it without registering an NGO. To register, setup, run and manage NGO is a entrepreneurial task. If you do not want to work by setting up and registering an NGO you can work without forming it.

How does an NGO make money?

How NGOs Are Funded. Funding sources include membership dues, the sale of goods and services, private sector for-profit companies, philanthropic foundations, grants from local, state and federal agencies, and private donations. Individual private donors comprise a significant portion of NGO funding.