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

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Multi-State
Control #:
US-01183BG
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Word; 
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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

(f) A person who acts in reliance on a certification of trust without knowledge that the representations contained in the certification are incorrect is not liable to any person for the action and may assume without inquiry the existence of the facts contained in the certification.

Section 114.007 - Exculpation of Trustee (a) A term of a trust relieving a trustee of liability for breach of trust is unenforceable to the extent that the term relieves a trustee of liability for: (1) a breach of trust committed: (A) in bad faith; (B) intentionally; or (C) with reckless indifference to the interest of ...

As long as you are confident that your trust is validly formed in ance with state law, recording is not required nor necessary. However, for extra peace of mind, you may choose to record your Certificate of Trust with the county clerk's office in order to protect it from unauthorized changes or access.

Sec. 114.087. INSTRUMENT NAMING TRUST AS PARTY. (a) Provides that the trustee of a trust is considered for all purposes to be the named party to an instrument that names the trust as a party to the instrument in any capacity, unless the trust is a legal entity under state law.

Section 112.057 - Division and Combination of Trusts (a) The trustee may, unless expressly prohibited by the terms of the instrument establishing the trust, divide a trust into two or more separate trusts without a judicial proceeding if the result does not impair the rights of any beneficiary or adversely affect ...

Section 114.008 - Remedies for Breach of Trust (a) To remedy a breach of trust that has occurred or might occur, the court may: (1) compel the trustee to perform the trustee's duty or duties; (2) enjoin the trustee from committing a breach of trust; (3) compel the trustee to redress a breach of trust, including ...

A trust cannot own, manage, or sell real estate or other property. However, the trustee administering the trust may hold legal title to the property on behalf of the individual or individuals that the trust benefits.

Texas: A person, other than a beneficiary, who holds a power to direct with respect to a charitable trust is presumptively a fiduciary. - TEX. PROP. CODE § 114.003(c).

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