Under the Indian Trusts Act, 1882, a buyer who contracted to buy property to be held on trust must hold…

Section 92 provides that where a person contracts to buy property to be held on trust for certain beneficiaries and buys it accordingly, "he must hold the property for their benefit" to the extent needed to give effect to the contract. Having paid for it, he does not hold it for himself, and neither the seller nor the Official Trustee has any claim.