My Account Deeds.com Real Estate Deeds

New York Memorandum of Trust

Using a New York Memorandum of Trust

In New York, trustees of personal trusts use a memorandum of trust to certify the existence of a trust and their authority to act on behalf of the trust. The memorandum is used in place of the actual trust document and provides only essential information about the trust for lending institutions or other third parties. In this way, information that may be personal in nature, such as the designated beneficiaries under the trust, is kept confidential.

The memorandum is executed and signed by the grantor of the trust under the trust instrument, as well as the trust's formal name and date of origination. It identifies the trustee and any successor trustees with power to act on behalf of the trust.

The difference between a declaration of trust and a trust agreement, as designated in the memorandum of trust document, is the grantor's relationship to the trustee. If the trustee and the grantor are the same person and the grantor controls trust assets, the trust falls under a declaration of trust. If the grantor and the trustee are separate people and the trustee controls the trust assets, trust is under a trust agreement [1].

The distinction between a declaration of trust and a trust agreement also affects the name by which the trust takes title to real property as a grantee. In the following example, "John Doe," under a declaration of trust, serves as both grantor and trustee: "John Doe, trustee under declaration of trust dated mm/dd/yyyy." Under a trust agreement, the grantor name is included as well: "John Doe under agreement with Robert Grantor dated mm/dd/yyyy" [1].

All recorded documents relating to real property in the State of New York are required to include a physical description of the property, as well as the section, lot, block, and unit numbers.

[1] https://www.treasurydirect.gov/indiv/planning/plan_estate_trustsq_a.pdf

Deeds.com New York Memorandum of Trust Forms Have Been Updated as Recently as Friday November 20, 2020

4.8 out of 5 (2107 Reviews)

What others like you are saying:


Shane T. said: The Transfer on Death Deed form package was very good. But like anything, could use some improvements. There is not enough space to fill more than one beneficiary with any level of additional detail like "as his sole and separate property" The area for the legal description could be a bit bigger and potentially fit many legal descriptions. Or it could be made to simply say "See Exhibit A" as is likely necessary for most anyway. The guide should indicate what "homestead property" means so the user doesn't have to research the legal definition. (which turns out to be obvious, at least in my state, if you live there, it's your homestead.) It would be helpful if an "Affidavit of Death" form were included in the package for instances where the current deed hasn't been updated to reflect a widowed owner as the sole owner before recording with only the one signature.

Reply from Staff: Thank you for your feedback. We really appreciate it. Have a great day!


Karen M. said: Excellent and easy process to use the online fill in the blank sections, especially when you provided a example of what each topic/section should look like. Highly recommend!

Reply from Staff: We appreciate your business and value your feedback. Thank you. Have a wonderful day!


Nancy J. said: It is helpful that an example of filled out form is included.

Reply from Staff: We appreciate your business and value your feedback. Thank you. Have a wonderful day!


SHALINI W. said: Exceptionally easy to use. Very user friendly. Would highly recommend.

Reply from Staff: We appreciate your business and value your feedback. Thank you. Have a wonderful day!


George D. said: The TODD form has been notarized and registered with my county Register of Deeds office, so it works just fine. My only quibble is that when I printed it out, it missed part of the last line of the notary's info and the fine print in the bottom corners. When I printed it at 90% scale, it included those things.

Reply from Staff: Thank you for your feedback. We really appreciate it. Have a great day!


Grace O. said: I was happy to find a way to file my title without having to send original. Although I found it hard to naigste, my daughter came to my rescue and we were successful. Thank you.

Reply from Staff: We appreciate your business and value your feedback. Thank you. Have a wonderful day!


New York Memorandum of Trust Form