Rhode Island § 34-4-30 § 34-4-30. Conveyance to or by nominee trust.

Rhode Island Statutes

§ 34-4-30 — § 34-4-30. Conveyance to or by nominee trust.

Rhode Island § 34-4-30

Title 34Property

Ch. 34-4Estates in Real Property

This text of Rhode Island § 34-4-30 (§ 34-4-30. Conveyance to or by nominee trust.) is published on Counsel Stack Legal Research, covering Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

R.I. Gen. Laws § 34-4-30 (2026).

Text

§ 34-4-30. Conveyance to or by nominee trust.
(a) Notwithstanding the provisions of § 34-4-27, title to real estate conveyed to a nominee trust or to the trustee of a nominee
            trust and conveyances of real estate by a trustee of a nominee trust are not on that
            account defective, and the conveyance shall be deemed valid so long as the following
            shall have occurred:
         
(1) A memorandum of trust pursuant to § 34-4-27 shall have been properly prepared and recorded; and
         
(2) The trustee of the nominee trust shall include in the memorandum of trust a statement
            to the effect that t

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§ 34-4-30. Conveyance to or by nominee trust.

(a) Notwithstanding the provisions of § 34-4-27, title to real estate conveyed to a nominee trust or to the trustee of a nominee trust and conveyances of real estate by a trustee of a nominee trust are not on that account defective, and the conveyance shall be deemed valid so long as the following shall have occurred:

(1) A memorandum of trust pursuant to § 34-4-27 shall have been properly prepared and recorded; and

(2) The trustee of the nominee trust shall include in the memorandum of trust a statement to the effect that the trustee has received the consent of each of the beneficiaries authorizing the action of the trustee as required by the nominee trust.

(b) A trustee executing a memorandum of trust and representing that they have obtained the consent of the beneficiaries shall be subject to personal liability to each of the beneficiaries as well as the grantees and the grantees' successors and/or assigns under the instrument purported to be executed with the consent of the beneficiaries, in the event such consent was not obtained.

(c) A nominee trust is defined as a trust in which the trustee(s) is/are not granted discretionary authority to act without the consent, concurrence, or direction of the beneficiaries.