§ 34-2-122 — Notice of trust or representative capacity of grantee

Wyoming § 34-2-122

• Jurisdiction: Wyoming
• Title 34: Property, Conveyances and Security Transactions
• Ch. 2: DEEDS, MORTGAGES AND LEASES GENERALLY

Text

In all instruments conveying real estate, or interests therein,
in which the grantee is described as trustee, agent, or as in
any other representative capacity, the instruments of conveyance
shall also define the trust or other agreement under which the
grantee is acting. In all instruments conveying real estate, or
interests therein, in which the grantee is described as a trust,
the instrument of conveyance shall also define the trust or
other instrument and shall be deemed to have vested title in the
trustee or trustees of the trust. For purposes of this section,
it shall be sufficient to define a trust by providing in the
text of the instrument the name of the trustee or trustees and
the name of the trust, the date of the trust or other agreement,
or by referring by proper description of the affecting record
book, page, document number or file, to the instrument, order,
decree or other writing, which is of public record in the county
in which the land so conveyed is located and in which the
required information appears; otherwise the description of a
grantee in any representative capacity in each instrument of
conveyance shall be considered and held to be a description of
the grantee, only, and shall not be notice of any trust, agency
or other representative capacity of the grantee who shall be
held as vested with the power to convey, transfer, encumber or
release the affected title. Whenever the grantee shall execute
and deliver a conveyance, transfer, encumbrance or release of
the property in a representative capacity, it shall not
thereafter be questioned by anyone claiming as a beneficiary
under the trust or agency or by anyone claiming by, through or
under any undisclosed beneficiary. Trust property in the name of
the trustee, agent or representative and owned only in that
capacity shall not be subject to execution for the grantee's
individual obligations.