Delaware Certificate of Trust with Real Property as Part of the Corpus

State:
Multi-State
Control #:
US-01183BG
Format:
Word; 
Rich Text
Instant download

Description

A certificate of trust is a shortened version of a trust that verifies the trust's existence, explains the powers given to the trustee, and identifies the successor trustee(s). A certificate of a trust agreement which conveys or contains an interest in real property must generally be recorded in the office of the county clerk where deeds are recorded and the property is located.


This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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FAQ

If the trust is to be totally silent for the particular period, the trust should contain very broad language ? e.g., the trustee shall not notify the beneficiaries of any information regarding the trust, including without limitation, statements, the existence of the trust, the beneficiary's interest in the trust, any ...

§ 3586. Reliance on governing instrument. A trustee who acted in good faith reliance on the terms of a written governing instrument is not liable to a beneficiary for a breach of trust to the extent the breach resulted from the reliance. 72 Del.

Section 3816 - Derivative actions (a) A beneficial owner may bring an action in the Court of Chancery in the right of a statutory trust to recover a judgment in its favor if persons with authority to do so have refused to bring the action or if an effort to cause those persons to bring the action is not likely to ...

Although a DST can own nearly any real estate asset of any quality, the underlying real estate held by DSTs tends to be high-grade institutional property.

§ 8106 (providing a three year limitations period for fiduciary duty and fraud actions); 6 Del.

§ 3536. Rights of creditors and assignees of beneficiary of trust [For application of this section, see 79 Del. Laws, c. 172, § 6].

381, §§ 4-7; § 3807. Trustee in State; registered agent. (a) Every statutory trust shall at all times have at least 1 trustee which, in the case of a natural person, shall be a person who is a resident of this State or which, in all other cases, has its principal place of business in this State.

So, why is everyone talking about Delaware trusts? to modify the duty to diversify trust investment, and to permit the trustee to hold high risk portfolios, closely held business interests, and overly concentrated stock positions in the stock of family businesses gone public without fear of liability.

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Delaware Certificate of Trust with Real Property as Part of the Corpus