State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_43 > GS_43-63

Article10.

Instruments DescribingParty as Trustee or Agent.

§ 43‑63.  Wheninstrument describing party as trustee or agent not to operate as notice oflimitation upon powers of such party.

When any instrument affectingtitle to real estate describes a party as trustee or agent, or otherwiseindicates that a party is or may be acting as trustee or agent, but does notindicate any beneficial interest, set forth his powers or specify some otherrecorded instrument setting forth such powers and the place in the publicrecords where it is recorded, and there is no recorded instrument in the recordchain of title to such real estate setting forth such powers, then thedescription or indication shall not be notice to any person thereafter dealingwith the real estate of any limitation upon the powers of the party nor requireany inquiry or investigation as to such trust or agency. Such trustee or agentshall be deemed to have full power to convey or otherwise dispose of the realestate; and no person interested under such trust or agency shall be entitledto make any claim against the real estate based upon notice given by suchdescription or indication. This Article shall not prevent claims against thetrustee or agent or against property other than the real estate. (1975,c. 181, s. 1.)