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No instrument executed by an owner whose fee title to registered land is held in trust which
transfers or plats the land, shall be registered except upon the written certification of the examiner
of titles that the instrument is executed in accordance with a power conferred in the instrument
of trust, or evidenced in a certificate of trust authorized by section 501B.56, or is authorized
by law, or upon the order of the district court directing its registration. The examiner shall not
certify any such instrument unless:
(1) the trust is supervised by the court; or
(2) an affidavit of trustee authorized by section 501B.57 and the document creating the
trust, a certified copy of it, or a certificate of trust authorized by section 501B.56 is registered
as a memorial upon the certificate of title. The certified copy of the certificate setting forth the
adoption of the resolution for voluntary dissolution of a corporate registered owner together with
the certificate of the secretary of state that said certificate of dissolution has been filed for record
in the secretary's office shall be deemed the document creating the trust.
History: (8308) RL s 3430; 1905 c 305 s 60; 1973 c 14 s 4; 1983 c 92 s 18; 1985 c 16 s 4;
1986 c 444; 1992 c 548 s 4