75-7-816. Recitals when title to real property is in trust — Failure.
(1) |
When title to real property is granted to a person as trustee, the terms of the trust may be given either:
Terms Used In Utah Code 75-7-816- Deed: The legal instrument used to transfer title in real property from one person to another.
- Grantor: The person who establishes a trust and places property into it.
- Person: means :Utah Code 68-3-12.5
- Property: includes both real and personal property. See Utah Code 68-3-12.5
- real property: includes :Utah Code 68-3-12.5
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Trustee: A person or institution holding and administering property in trust.
(a) |
in the deed of transfer; or |
(b) |
in an instrument signed by the grantor and recorded in the same office as the grant to the trustee. |
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(2) |
If the terms of the trust are not made public as required in Subsection (1), a conveyance from the trustee is absolute in favor of purchasers for value who take the property without notice of the terms of the trust. |
(3) |
The terms of the trust recited in the deed of transfer or the instrument recorded under Subsection (1)(b) shall include:
(a) |
the name of the trustee; |
(b) |
the address of the trustee; and |
(c) |
the name and date of the trust. |
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(4) |
Any real property titled in a trust which has a restriction on transfer described in Section 25-6-502 shall include in the title the words “asset protection trust.” |
Amended by Chapter 204, 2017 General Session