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Chapter 508A
Section 508A.61
Topics
Recent History
- 1999 Subd. 2 Amended 1999 c 11 art 1 s 59
- 1999 Subd. 3 Amended 1999 c 11 art 1 s 60
This is an historical version of this statute chapter. Also view the most recent published version.
508A.61 TRUST, OTHER LIMITED DEEDS; NEW TRUSTEE; CORPORATE
DISSOLUTION.
Subdivision 1. Trust deeds. If a deed or other instrument is filed with the registrar for the
purpose of transferring land registered under sections 508A.01 to 508A.85 in trust, or upon any
equitable condition or limitation expressed in it, or for the purpose of creating or declaring a trust
or other equitable interest in it without the transfer of it, the particulars of the trust, condition,
limitation, or other equitable interest need not be entered upon the CPT, but a memorial of it may
be entered by the words "in trust" or "upon condition," or other apt words, and by reference by
number to the instrument authorizing or creating the same.
Subd. 2. New trustee. When a new trustee of land registered under sections 508A.01 to
508A.85 is appointed, a new CPT shall be entered in the new trustee's name upon presentation to
the registrar of a certified copy of the decree or other instrument appointing the new trustee.
Subd. 3. Voluntary dissolution. Where a corporate owner did adopt a resolution for
voluntary dissolution pursuant to chapter 301, the registrar of titles shall enter a new CPT in the
name of the trustee in dissolution upon the presentation of a certified copy of the certificate setting
forth the adoption of the resolution together with the certificate of the secretary of state that the
certificate of dissolution has been filed for record in the secretary's office.
Subd. 4. Filings on same day. When an instrument showing the appointment or dissolution
and a trustee's deed are filed for registration on the same day, a new CPT may be entered in the
name of the grantee or grantees and the memorial of the instrument shall have the same force and
effect as though a CPT had been entered in favor of the trustee. However, the fees for registration
shall be the same as would be the case if a CPT were entered in the name of the trustee.
History: 1982 c 396 s 54; 1985 c 16 s 8; 1986 c 444; 1999 c 11 art 1 s 59,60
DISSOLUTION.
Subdivision 1. Trust deeds. If a deed or other instrument is filed with the registrar for the
purpose of transferring land registered under sections 508A.01 to 508A.85 in trust, or upon any
equitable condition or limitation expressed in it, or for the purpose of creating or declaring a trust
or other equitable interest in it without the transfer of it, the particulars of the trust, condition,
limitation, or other equitable interest need not be entered upon the CPT, but a memorial of it may
be entered by the words "in trust" or "upon condition," or other apt words, and by reference by
number to the instrument authorizing or creating the same.
Subd. 2. New trustee. When a new trustee of land registered under sections 508A.01 to
508A.85 is appointed, a new CPT shall be entered in the new trustee's name upon presentation to
the registrar of a certified copy of the decree or other instrument appointing the new trustee.
Subd. 3. Voluntary dissolution. Where a corporate owner did adopt a resolution for
voluntary dissolution pursuant to chapter 301, the registrar of titles shall enter a new CPT in the
name of the trustee in dissolution upon the presentation of a certified copy of the certificate setting
forth the adoption of the resolution together with the certificate of the secretary of state that the
certificate of dissolution has been filed for record in the secretary's office.
Subd. 4. Filings on same day. When an instrument showing the appointment or dissolution
and a trustee's deed are filed for registration on the same day, a new CPT may be entered in the
name of the grantee or grantees and the memorial of the instrument shall have the same force and
effect as though a CPT had been entered in favor of the trustee. However, the fees for registration
shall be the same as would be the case if a CPT were entered in the name of the trustee.
History: 1982 c 396 s 54; 1985 c 16 s 8; 1986 c 444; 1999 c 11 art 1 s 59,60
Official Publication of the State of Minnesota
Revisor of Statutes