§ 34-4-27 Title to real estate –Trusts. – (a) Property to be held in trust shall be conveyed to the trustees of thesubject trust. An affidavit or memorandum of trust may be recorded inconnection with the creation, amendment, restatement, or revocation of a trust.Any transfer or mortgage of trust property by the trustees shall require therecording of the trust instrument as amended or restated, or, in thealternative, the recording of the affidavit or memorandum of trust. Anaffidavit or memorandum of trust shall be executed either by each settlor ofthe trust, or by each current trustee and shall include the followinginformation:
(1) Name of the trust, including the name of each settlor,the name of each original trustee, and the date of the original instrument andof each amendment or restatement;
(2) Names of the current trustees;
(3) Statement as to whether the trustees have the power toperform discretionary acts as trustees without the consent, concurrence, ordirection of the beneficiaries;
(4) Statement as to the trustee's authority to convey,mortgage, lease, or grant restrictions or easements or any other interest inthe real estate, with a copy of the relevant provisions of the trust attachedto the affidavit or memorandum;
(5) Statement as to whether anything in the trust derogatesfrom the power of the trustees to convey, mortgage, lease, or grantrestrictions or easements or any other interest in real estate;
(6) Statement as to whether the trust has been revoked or hasotherwise terminated and, if the trust has been revoked or has otherwiseterminated, a statement as to the trustees' power to convey trust property toeffect such revocation or termination;
(7) Statement as to the manner in which the trustees arereplaced and successor trustees are appointed;
(8) Statement regarding the time and manner in which thetrust terminates as well as a statement as to whether the trust is revocableand, if revocable, the circumstances under which it becomes irrevocable; and
(9) Statement regarding the date and place of death of thesettlor (if applicable).
(b) Any third party without actual knowledge to the contrarymay rely on the validity of the statements contained in the affidavit ormemorandum of trust.
(c) Any amendment or revocation of a trust or an affidavit ormemorandum thereof must be recorded to constitute notice to third parties.
(d) The provisions of this section shall apply to alltransactions regarding all trusts and recorded instruments pertaining to realproperty recorded on or after the effective date of this act.
§ 34-4-27 Title to real estate –Trusts. – (a) Property to be held in trust shall be conveyed to the trustees of thesubject trust. An affidavit or memorandum of trust may be recorded inconnection with the creation, amendment, restatement, or revocation of a trust.Any transfer or mortgage of trust property by the trustees shall require therecording of the trust instrument as amended or restated, or, in thealternative, the recording of the affidavit or memorandum of trust. Anaffidavit or memorandum of trust shall be executed either by each settlor ofthe trust, or by each current trustee and shall include the followinginformation:
(1) Name of the trust, including the name of each settlor,the name of each original trustee, and the date of the original instrument andof each amendment or restatement;
(2) Names of the current trustees;
(3) Statement as to whether the trustees have the power toperform discretionary acts as trustees without the consent, concurrence, ordirection of the beneficiaries;
(4) Statement as to the trustee's authority to convey,mortgage, lease, or grant restrictions or easements or any other interest inthe real estate, with a copy of the relevant provisions of the trust attachedto the affidavit or memorandum;
(5) Statement as to whether anything in the trust derogatesfrom the power of the trustees to convey, mortgage, lease, or grantrestrictions or easements or any other interest in real estate;
(6) Statement as to whether the trust has been revoked or hasotherwise terminated and, if the trust has been revoked or has otherwiseterminated, a statement as to the trustees' power to convey trust property toeffect such revocation or termination;
(7) Statement as to the manner in which the trustees arereplaced and successor trustees are appointed;
(8) Statement regarding the time and manner in which thetrust terminates as well as a statement as to whether the trust is revocableand, if revocable, the circumstances under which it becomes irrevocable; and
(9) Statement regarding the date and place of death of thesettlor (if applicable).
(b) Any third party without actual knowledge to the contrarymay rely on the validity of the statements contained in the affidavit ormemorandum of trust.
(c) Any amendment or revocation of a trust or an affidavit ormemorandum thereof must be recorded to constitute notice to third parties.
(d) The provisions of this section shall apply to alltransactions regarding all trusts and recorded instruments pertaining to realproperty recorded on or after the effective date of this act.
§ 34-4-27 Title to real estate –Trusts. – (a) Property to be held in trust shall be conveyed to the trustees of thesubject trust. An affidavit or memorandum of trust may be recorded inconnection with the creation, amendment, restatement, or revocation of a trust.Any transfer or mortgage of trust property by the trustees shall require therecording of the trust instrument as amended or restated, or, in thealternative, the recording of the affidavit or memorandum of trust. Anaffidavit or memorandum of trust shall be executed either by each settlor ofthe trust, or by each current trustee and shall include the followinginformation:
(1) Name of the trust, including the name of each settlor,the name of each original trustee, and the date of the original instrument andof each amendment or restatement;
(2) Names of the current trustees;
(3) Statement as to whether the trustees have the power toperform discretionary acts as trustees without the consent, concurrence, ordirection of the beneficiaries;
(4) Statement as to the trustee's authority to convey,mortgage, lease, or grant restrictions or easements or any other interest inthe real estate, with a copy of the relevant provisions of the trust attachedto the affidavit or memorandum;
(5) Statement as to whether anything in the trust derogatesfrom the power of the trustees to convey, mortgage, lease, or grantrestrictions or easements or any other interest in real estate;
(6) Statement as to whether the trust has been revoked or hasotherwise terminated and, if the trust has been revoked or has otherwiseterminated, a statement as to the trustees' power to convey trust property toeffect such revocation or termination;
(7) Statement as to the manner in which the trustees arereplaced and successor trustees are appointed;
(8) Statement regarding the time and manner in which thetrust terminates as well as a statement as to whether the trust is revocableand, if revocable, the circumstances under which it becomes irrevocable; and
(9) Statement regarding the date and place of death of thesettlor (if applicable).
(b) Any third party without actual knowledge to the contrarymay rely on the validity of the statements contained in the affidavit ormemorandum of trust.
(c) Any amendment or revocation of a trust or an affidavit ormemorandum thereof must be recorded to constitute notice to third parties.
(d) The provisions of this section shall apply to alltransactions regarding all trusts and recorded instruments pertaining to realproperty recorded on or after the effective date of this act.
