§ 36C-10-1013. Certification of trust. - North Carolina Statutes

§ 36C‑10‑1013. Certification of trust.

(a)        Instead offurnishing a copy of the trust instrument to a person other than a beneficiary,the trustee may furnish to the person a certification of trust containing thefollowing information:

(1)        The existence of thetrust and the date the trust instrument was executed;

(2)        The identity of thesettlor, unless withheld under a provision in the trust instrument;

(3)        The identity andaddress of the currently acting trustee;

(4)        The powers of thetrustee;

(5)        The revocability orirrevocability of the trust and the identity of any person holding a power torevoke the trust;

(6)        The authority ofcotrustees to sign or otherwise authenticate and whether all or less than allare required in order to exercise powers of the trustee;

(7)        The trust's taxpayeridentification number; and

(8)        The manner of takingtitle to trust property.

(b)        Any trustee maysign or otherwise authenticate a certification of trust.

(c)        A certification oftrust must state that the trust has not been revoked, modified, or amended inany manner that would cause the representations contained in the certificationof trust to be incorrect.

(d)        A certification oftrust need not contain the dispositive terms of a trust.

(e)        A recipient of acertification of trust may require the trustee to furnish copies of thoseexcerpts from the original trust instrument and later amendments that designatethe trustee and confer upon the trustee the power to act in the pendingtransaction.

(f)         A person who actsin reliance upon a certification of trust without knowledge that therepresentations contained in the certification are incorrect is not liable toany person for so acting and may assume without inquiry the existence of thefacts contained in the certification. Knowledge of the terms of the trust maynot be inferred solely from the fact that the person relying upon thecertification holds a copy of all or part of the trust instrument.

(g)        A person who ingood faith enters into a transaction in reliance upon a certification of trustmay enforce the transaction against the trust property as if therepresentations contained in the certification were correct.

(h)        A person making ademand for the trust instrument in addition to a certification of trust orexcerpts is liable for damages if the court determines that the person did notact in good faith in demanding the trust instrument.

(i)         This section doesnot limit the right of a person to obtain a copy of the trust instrument in ajudicial proceeding concerning the trust.

(j)         In transactionsinvolving real property, a person who acts in reliance upon a certification oftrust may require that the certification of trust be executed and acknowledgedin a manner that will permit its registration in the office of the register ofdeeds in the county where the real property is located. The certification oftrust need not contain the trust's taxpayer identification number if thattaxpayer identification number is also the social security number of a grantor.However, the trust's taxpayer identification number shall be certified by thetrustee to the person acting in reliance upon the certification of trust in amanner reasonably satisfactory to that person. (2005‑192, s. 2.)