75-7-1013 - Certification of trust. - Utah Statutes

75-7-1013. Certification of trust.
(1) Instead of furnishing a copy of the trust instrument to a person other than abeneficiary, the trustee may furnish to the person a certification of trust containing the followinginformation:
(a) that the trust exists and the date the trust instrument was executed;
(b) the identity of the settlor;
(c) the identity and address of the currently acting trustee;
(d) the powers of the trustee in the pending transaction;
(e) the revocability or irrevocability of the trust and the identity of any person holding apower to revoke the trust;
(f) the authority of cotrustees to sign or otherwise authenticate and whether all or lessthan all are required in order to exercise powers of the trustee; and
(g) the name in which title to trust property may be taken.
(2) A certification of trust may be signed or otherwise authenticated by any trustee.
(3) A certification of trust must state that the trust has not been revoked, modified, oramended in any manner that would cause the representations contained in the certification oftrust to be incorrect.
(4) A certification of trust need not contain the dispositive terms of a trust.
(5) A recipient of a certification of trust may require the trustee to furnish copies of thoseexcerpts from the original trust instrument and later amendments which designate the trustee andconfer upon the trustee the power to act in the pending transaction.
(6) A person who acts in reliance upon a certification of trust without knowledge that therepresentations contained in it are incorrect is not liable to any person for acting and may assumewithout inquiry the existence of the facts contained in the certification. Knowledge of the termsof the trust may not be inferred solely from the fact that a copy of all or part of the trustinstrument is held by the person relying upon the certification.
(7) A person who in good faith enters into a transaction in reliance upon a certification oftrust may enforce the transaction against the trust property as if the representations contained inthe certification were correct.
(8) A person making a demand for the trust instrument in addition to a certification oftrust or excerpts is liable for costs, expenses, attorney fees, and damages if the court determinesthat the person did not act in good faith in demanding the trust instrument.
(9) This section does not limit the right of a person to obtain a copy of the trustinstrument in a judicial proceeding concerning the trust.

Enacted by Chapter 89, 2004 General Session