Colorado Certificate of Trust
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Certificate of Trust for Real Estate Located in Colorado
Certification of a Trust in Colorado
When a trustee wishes to conduct business with a bank in the name of a trust, he/she needs to prove his/her authority to do so by producing a certification of trust, governed by C.R.S. 11-105-111 (2017). The certification of trust stands as prima facie evidence of the facts presented within.
Similar to a statement of authority, which identifies a trust and its trustee, and is recorded alongside a conveyance of real property into a trust, the certificate of trust verifies the existence of a trust and a trustee's authority to act on behalf of the trust. However, the certificate of trust is not necessarily recorded, and it provides more information about the trust.
The certificate functions as "evidence of the trust relationship" by presenting essential information about the trust (C.R.S. 11-105-111(1)). It is a summary of the trust agreement conferring administrative powers to the trustee, and sometimes contains excerpts of the relevant information directly from the trust agreement. The certificate does not disclose nonessential provisions of the trust agreement, such as the identity of those having a beneficial interest in the trust, which some may prefer to keep confidential.
A valid certificate contains the trust's name and date, the identities of the settlor and the acting trustee, and the powers of the acting trustee regarding the transaction at hand. In addition, it identifies the trust as either irrevocable or revocable, and confirms who holds a power to revoke the trust, as well as the name by which the trust will hold title to assets. As with other documents affecting real property, the certificate should contain a legal description, including the commonly known street address of the property.
Trust law can quickly become complicated, and each situation is unique, and some lending institutions may require further information to supplement a certificate of trust.