§ 70-21-307 — Effect Of Conveyance To Grantee As Trustee When No Trust Conditions Provided

70-21-307 . Effect of conveyance to grantee as trustee when no trust conditions provided. Any conveyance of real property placed of record in any office of a county clerk and recorder in which the name of the grantee is followed by the word "trustee", "as trustee", or some similar fiduciary term and in which terms and conditions of the purported trust or any limitation on the power of the grantee to convey is not set forth so that any person dealing with the real property could learn from the conveyance what, if any, limitation exists upon the authority of the grantee with regard to the reconveyance or encumbrance of the property must be considered as though the property had been conveyed to the grantee without any limitation upon the grantee's authority to reconvey or encumber as fully as though the word "trustee", "as trustee", or any equivalent fiduciary expression had not been used in connection with the grantee's name. The use of the word "trustee" or "as trustee" or any equivalent fiduciary expression purporting a trust contained in the conveyance does not have force or effect in charging any purchaser or encumbrancer with notice of any limitation of power on the part of the person named as trustee to deal with the lands as the person's own.

Legislative History

En. Sec. 1, Ch. 64, L. 1943; R.C.M. 1947, 73-206; amd. Sec. 2156, Ch. 56, L. 2009.