If any instrument affecting real or personal property in this state heretofore executed by or to any person purporting to act in a representative capacity fails clearly to identify the beneficiary and the nature of the trust, the person by or to whom such instrument was executed, within six months after the taking effect of this code, may file and have recorded in the office of the recorder of the county in which such instrument was recorded, a statement in writing, referring to any such instrument by date, name of the parties, when and where recorded, the nature of the instrument, a description of the property affected thereby, and fully and clearly by name identifying the beneficiary and the nature of the trust. Such statement must be acknowledged so as to entitle the same to record.

Terms Used In North Dakota Code 1-04-06

  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Person: means an individual, organization, government, political subdivision, or government agency or instrumentality. See North Dakota Code 1-01-49
  • Property: includes property, real and personal. See North Dakota Code 1-01-49
  • State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See North Dakota Code 1-01-49