Land owners in West Virginia may transfer their land into and out of trusts. In this situation, a trust is a legal construct where a third party (a trustee), holds title to real estate at the request of the settlor (the person who placed the title into the trust), for the benefit of someone else (the beneficiary). Trusts are governed by the West Virginia Uniform Trust Code, found at Chapter 44D of the West Virginia Code.
In addition to the deed and accompanying paperwork, buying and selling real property related to trusts demands supplemental documentation — a memorandum of trust. This document contains a restatement of the important details of the main trust agreement. It is useful because it presents details relevant to the transfer of land, but keeps unrelated provisions of the trust private. The requirements are set out at 36-1-4a and include things like the names and addresses of the parties, the name, creation date, and nature of the trust, and confirmation that the trustee has the power to convey real property.
After completing the memorandum of trust, submit it to the recording office for the county where the land is situated.