Does the "Trust" have to be named? - Posted by Jim

Posted by Surfdog on March 09, 2001 at 24:02:26:

Yes

Does the “Trust” have to be named? - Posted by Jim

Posted by Jim on March 08, 2001 at 17:46:42:

I do realize that on the warranty deed to trustee the trust must have a name,… ie:123 Main St Land Trust, but my question is this:

Does the trust have to be named in the actual trust agreement? I am using the trust agreement from LeGrands courses and it does not have anywhere in it where it specifically names the trust. It has the grantor and beneficiaries, and then the Trustee, but nothing nowhere about the actual name of the trust.

Then on the last page of the trust it lists the beneficiaries and there pecentage of interest in the trust.

Is this a good trust agreement or is it missing something?

Thanks

Jim

Actually… - Posted by Randy M

Posted by Randy M on March 09, 2001 at 08:35:59:

That should be your first Article, after the salutations:

Article I

The name of this Trust shall be 123 Main Street Land Trust.

I haven’t seen LeGrand’s trust agreement, so I don’t know the format, but this is the “proper” way to name your trust.

Randy M

Re: Does the “Trust” have to be named? - Posted by Surfdog

Posted by Surfdog on March 08, 2001 at 23:52:01:

As you state, something has to appear on the deed; that’s the name of the trust (123 Main St. Trust). So, that’s what should be at the the top of the page of the trust document. By the way, in some states, the Trustee’s name is supposed to appear so the deed can be better indexed (John Doe, Trustee of the 123 Main St. Trust). Most of the time, that practice is not followed, and property title is passed without incident anyway.

Re: Does the “Trust” have to be named? - Posted by Jim

Posted by Jim on March 08, 2001 at 23:56:11:

So you’re saying that if I just insert the name of the trust at the top of the front page of said trust agreement, that would suffice?

Thanks for your input

Jim