2006 Minnesota Statutes

508.61 TRUST, OTHER LIMITED DEEDS; NEW TRUSTEE; CORPORATE
DISSOLUTION.
    Subdivision 1. No entry. If a deed or other instrument is filed with the registrar for the
purpose of transferring registered land in trust, or upon any equitable condition or limitation
expressed therein, or for the purpose of creating or declaring a trust or other equitable interest
therein without the transfer thereof, the particulars of the trust, condition, limitation, or other
equitable interest need not be entered upon the certificate of title, but a memorial thereof 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 registered land is appointed a new certificate of
title 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 certificate of
title in the name of the trustee in dissolution upon 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 said certificate of dissolution has been filed for record in the secretary's office.
    Subd. 4. Same day filing; fees. When an instrument showing such appointment or
dissolution and a trustee's deed are filed for registration on the same day, a new certificate of title
may be entered in the name of the grantee or grantees and the memorial of such instrument shall
have the same force and effect as though a certificate of title had been entered in favor of the
trustee; the fees, however, for registration to be the same as would be the case if a certificate of
title were entered in the name of the trustee.
History: (8307) RL s 3429; 1905 c 305 s 59; 1973 c 14 s 3; 1985 c 16 s 3; 1986 c 444;
1999 c 11 art 1 s 30,31