Declaration of Trust Homework Help

Declaration of Trust

The NHB is empowered under the NHB Act, to create trust(s) and transfer loans and advances (along with underlying securities where necessary) to such trust(s). Accordingly, after acquiring the housing loans, the NHB would make an express declaration of trust in respect of the pool, by setting apart and transferring the housing loans along with the underlying securities. It would also appoint itself as the trustee, and hold and administer the housing loans as trust property for the benefit of PTC holders.

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