In most states a certificate or memorandum of a trust agreement which conveys or entrusts an interest in real property may be recorded with the land records clerk of the appropriate county in lieu of the entire trust agreement. The certificate must be executed by the trustee and it must contain the following: (a) the name of the trust; (b) the street and mailing address of the office, and the name and street and mailing address of the trustee; (c) the name and street and mailing address of the trustor or grantor; (d) a legally sufficient description of all interests in real property owned by or conveyed to the trust; (e) the anticipated date of termination of the trust; and (f) the general powers granted to the trustee.
Montana Certificate or Memorandum of Trust Agreement
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Living trusts in Oregon An Oregon living trust is established by the grantor. As the grantor, you determine all the terms of the trust and move your assets into control of the trust. You'll want to place as many assets as possible into the trust to maximize it.
To transfer real property into your Trust, a new deed reflecting the name of the Trust must be executed, notarized and recorded with the County Recorder in the County where the property is located. Care must be taken that the exact legal description in the existing deed appears on the new deed.
Within a reasonable time after the death of the trust's creator (the ?trustor?), the trustee must notify the beneficiaries: (i) of the trust's existence, (ii) of the identity of the decedent, (iii) of the beneficiary's right to request a copy of the trust agreement, and (iv) of the right to a trustee's report (as ...
If you don't want to show your trust document, in most cases you can use a shorter version of it, called a "certification of trust" or "certificate of trust" and sometimes referred to as an "abstract of trust." This document gives institutions the information they need but lets you keep some key provisions private.
When a certificate of trust is recorded in a county where real property is situated, or in the case of personal property, when it is presented to a third party, the certificate of trust serves to document the existence of the trust, the identity of the trustees, the powers of the trustees and any limitations on those ...
A certification of trust provides information regarding the settlor of the trust, the acting trustee, and the power and authority of the trustee to manage and invest trust property or to act with respect to a specific transaction.
Trusts do not need to go through the probate process to become valid, unlike a will which must be approved by a court and then put into effect. A trust can distribute assets immediately after your death if you wish, whereas assets passed by a will must wait for probate to conclude.
A Trust Certification gives a Trustee the ability to provide anyone who needs it (think: financial institutions or other third parties) important information about the Trust - like the date it was formed, the legal/formal name of the Trust, who the Trustee is (or Trustees are) and other information institutions may ...