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Public trusts in India require to be registered with the respective state authority (if required). The following laws regulate trusts: Trusts Act, 1882. Income Tax Act, 1961.
Mississippi law requires a signed deed to be delivered to the new owner to become effective. Delivery by the current owner to the chancery clerk for recording is considered constructive delivery to the new owner.
A deed of trust will include the same type of information stated in a mortgage document, such as: The identities of the borrower, lender, and trustee. A full description of the property to be placed in trust. Any restrictions or requirements on the use of the property while it is in trust.
Any attorney or title company can do a title search and prepare your deed. It is illegal for the Chancery Clerk's Office to search these records or prepare your deed. Before recording your deed it must contain the following: Signature of seller or sellers - notarized.
A legal document that creates a trust, giving a person or organization the right to manage money or property for someone else, and says how this should be done: The trust deed stated clearly what they were entitled to do with the property.
Copies of deeds are housed in the county court house where the land is located. Copies of deeds can also be found in the Secretary of State's Office, provided the deed is on file.
A simple example would be the situation in which one member of a family advances money to another and asks the second member to hold the money or to invest it for him. A more complicated example of an implied trust would be the situation in which one party provides money to another for the purchase of property.
What Is Included in a Trust Deed? The identities of the borrower, lender, and trustee. A full description of the property to be placed in trust. Any restrictions or requirements on the use of the property while it is in trust. The terms of the loan, including principal, monthly payments, and interest rate.