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3 Parties (S 07 Trustee (Anybody capable of holding a property (but, if…

- - - - Unless future members are ascertained with perpetual period
    - - “Just as a community of persons can hold property or acquire rights in property so also a community of persons can be beneficiaries under a trust deed.
        
        :forbidden::lock:Kandasamy Vs. Kumarasekaran
        
        unincorporated society or association cannot pass title if it is not clear whether the transferor meant to benefit the present members of the society as individuals or to benefit the society as a quasi-corporation.
        
        :warning: the unincorporated society was held to be void.
        
        :unlock:Leahy Vs. A.G
        
        a gift to the unincorporated body was prima facie gift to the individual members.
        
        Weerasooriya J : “I do not think the dictum amounts to more than that the individual members comprising a community (and not the community as a distinct entity) can hold or acquire rights in the property"
- - - - a) by every person competent to contract; and
        (b) with the permission of the Court by or on behalf of a minor;
      - A company or Government of Sri Lanka have the necessary capacity to create a trust under the Trusts Ordinance
      - “Property can be held by a person in trust to convey it to a Company which is to-come into existence in the future”.
        
        Salahudeen Vs. Commissioner of Stamps
      - A group or community of persons can create a trust by contributing towards the value of the trust property.