Indian Trust Act, 1882 defines the term "Trust" as "an obligation annexed to the ownership of property, and arising out of a confidence reposed in and accepted by the owner , or declared and accepted by him for the benefit of another, or of another and the owner." The 'author of the trust' is the person who reposes or declares the confidence. The 'trustee' is the person who accepts the confidence. The 'beneficiary' is the person for whose benefit the confidence is accepted. The 'trust property' or 'trust money' is the subject matter of the trust. The 'beneficial interest' or 'interest of the beneficiary' is his right against the trustee as owner of the trust property. The instruments, if any, by which the trust is declared is called "the instrument of trust".
As per the provisions of Section 5, a trust is created when the author of the trust indicates with reasonable certainty by any words or acts