Mississippi Certificate of Trust by Individual
TITLE 91 TRUSTS AND ESTATES
CHAPTER 9 TRUSTS AND TRUSTEES
ARTICLE 1 TRUSTS & GENERAL PROVISIONS
Certificate of trust agreement
(1) A certificate of a trust agreement which conveys or
entrusts an interest in real property may be lodged for record with the
clerk of the appropriate chancery court, in lieu of the entire trust agreement,
in accordance with the provisions of this section. The certificate must
be executed by the trustee and the grantor of the trust, 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 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.
(2) The trust shall be formed and take full effect as of the filing
of the certificate of trust in the office of the chancery clerk. For all
purposes, a copy of the certificate of trust, duly recorded, is conclusive
evidence of the formation of a trust and prima facie evidence of its existence.
Any person, who in good faith deems it necessary to review the terms and
conditions of the trust, shall be entitled to inspect he trust agreement
in the office of the trustee upon reasonable notification.
(3) If the trustee does not allow a person to inspect the trust
agreement as provided in subsection (2) of this section within thirty (30)
days after reasonable notification, such person may petition a court of
competent jurisdiction to compel the trustee to produce the trust agreement
for inspection by the petitioner. In the event such court grants the petition
all necessary costs incurred by the petitioner, including reasonable attorney's
fees, shall be taxed against the trustee.
(4) The certificate of trust may be amended by filing a certificate
of amendment thereto with the chancery clerk. The certificate of amendment
shall set forth the amendment to the original certificate with particularity
and the future effective date of the amendment, which must be a date certain.
Each certificate of amendment filed under this subsection must be executed
in the following manner: (a) the original certificate of trust must be
signed and acknowledged by the grantor and the trustee; (b) the certificate
of amendment must be acknowledged in a manner that is suitable for recordation;
(c) a person may sign the certificate of amendment pursuant to a power
of attorney; however, such signing must specifically refer to a general
or special power of attorney and the power of attorney must be attached
to the certificate; and (d) the certificate of amendment must be filed
in the office of the chancery clerk where the original trust or certificate
of trust is recorded. Title 91, Chap. 9, Art. 1, §91-9-7.
