The memorandum of trust, codified under the Estates and Trusts chapter of the West Virginia Code at 36-1-4a is executed jointly by all acting trustees and living settlors of a trust. It is recorded in the land records with an acquisition and/or conveyance of real property by a trust in order to maintain a clear account for potential title examinations.
A memorandum contains a statement that the trust exists and the date of the trust; the names of each settlor, current trustee, and successor trustee; the conditions under which the successor assumes trustee powers; and whether or not the trust is revocable. The form also requires a verbatim accounting of the trustee's powers "relative to the acquisition, sale, disposition, or encumbering of real property ... or the conveyance or disposition of real property," depending on the situation, and any restrictions on those powers (W. Va. Code 36-1-4a(a)(2)(iv)). Due to the nature of the transaction for which the memorandum is recorded, a legal description of the subject property is also required. The memorandum may also include the entire text "of any or all of the provisions of the trust" ( 36-1-4a(b)).
Each case is unique, so contact an attorney with questions about this form or anything else relating to trusts in West Virginia.
Deeds.com West Virginia Memorandum of Trust Forms Have Been Updated as Recently as Wednesday January 15, 2020
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