TRANSFER IN TRUST; PROCEDURE; POWERS TO BE NOTED ON CERTIFICATE

(a) Whenever any instrument is recorded for the purpose of transferring land in trust, or for the purpose of creating or declaring a trust in land without transfer, the particulars of the trust shall not be entered on the certificate; but a memorandum thereon shall be entered by the words "in trust," and by a reference by number to the instrument authorizing or creating the same. If the instrument creating or declaring a trust is already recorded in the bureau of conveyances or admitted to probate, or any order of a federal court creating or declaring a trust in real property has been made, a certified copy may be recorded by the assistant registrar. (b) If the instrument creating or declaring a trust contains an express power to sell, mortgage, or deal with the land in any manner, the power shall be stated in the certificate. No instrument transferring, mortgaging, or in any way dealing with land held in trust shall be recorded, unless the power thereto enabling is expressly conferred in the instrument of trust, or unless the judgment of a court of competent jurisdiction has construed the instrument in favor of the power, in which case a certified copy of the judgment shall be recorded with the assistant registrar. If a trust instrument is recorded, then it shall be indexed in the records of the assistant registrar and shall not require a reference to a Certificate of Title Number. (Amended November 6, 2019, effective November 17, 2019.)