Hennepin County: New Trust Law and Forms

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A reminder from the Examiner of Titles office that effective January 1, 2016, statutory changes affect conveyances made by a trustee of an inter vivos trust (effective during life) or testamentary trust (effective upon death).   The new Minnesota Trust Code, Minnesota Statutes Chapter 501C, became effective January 1, 2016. This chapter applies to all trusts created before, on, or after January 1, 2016. See Minn. Stat. § 501C.1304. Minnesota Statutes Chapter 501B was repealed effective that same day.  Here are the new cites for the statutory forms commonly submitted to our office for approval:  

TOPIC

OLD PROVISION

NEW PROVISION (Effective January 1, 2016)

Certificate of Trust

§501B.56

§501C.1013

Affidavit of Trustee

§501B.57

§501C.1014

Certificate of Custodianship

§501B.561

§507.49

Affidavit of Custodian

§501B.571

§507.50

The new certificate of trust must include “the number of trustees required to act.” Minn. Stat. § 501C.1013, Subd. 1(5). The new certificate of trust also requires “a statement as to whether the trust has terminated or the trust instrument has been revoked.” Minn. Stat. § 501C.1013, Subd. 1(6). This slightly modifies the old statute which required a statement as to whether the “trust instrument” has terminated or been revoked.  There are some word changes to the two affidavits of trustee. However, just like the old law, the new statute states that the affidavit “may be substantially in the following form.” The certificate of trust provisions remain mandatory.

New Uniform Conveyancing Blank Forms have been created and there is a link to them on the Examiner of Titles website:  www.hennepin.us (Search "Examiner of Titles").