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Certificate of Trust

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  • rosario russell
    I have a very narrow question with regard to non-statutory trusts. There is a contract for $9,000 on a small house in Kansas, believe it or not a typical price
    Message 1 of 1 , May 7, 2007
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           I have a very narrow question with regard to non-statutory trusts. There is a contract for $9,000 on a small house in Kansas, believe it or not a typical price for houses in that area of Kansas. The underwriter will not insure the title without viewing the trust, including the names of the trustees and the beneficiaries (capital unit holders). A significant amount of information about the trust has been provided, such as the lawful authority for it, the basis for my authority to sign on behalf of the trust as general manager, the creator/settlor and, what I believe is the main stumbling block, that it is non-statutory. They claim the trust is not legally recognized, they need all this information in order to essentially protect themselves in the event of a claim. If the concern is whether the trust is valid and legal, then the question becomes how naming the trustees and beneficiaries can make it valid and legal. I don't think so. They are willing to accept a Certificate of Trust from a lawyer -- gotta help all those jobless lawyers -- certifying that the trust is a valid, legal trust.
       
           Names of lawyers who can read the trust and certify it is legal in their opinion would be greatly appreciated. A Memorandum of Law is attached to the trust and made a part of it.


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