QUESTION

Is Certificate of Trust enough if it was notarized but not recorded and quit claim deed on another property in another state is recorded?

Asked on Nov 06th, 2016 on Estate Planning - Michigan
More details to this question:
We set up a family trust in 2012. We got Quit Claim Deeds (QCD's) on 2 different properties in different states that were recorded in their respective states/counties. The owner of the properties is our family trust. The QCD has our names as executors, and our successor-executors, but didn't list their names. Obviously, we can't sell the properties without the Certificate of Trust. We are now residents of a state and trying to get a Home Equity Line of Credit. I've provided them with a zillion different documents including this Trust/Quit Claim Deed which is the only hold up. I also gave them our "Certificate of Trust" which is notarized but not recorded. The Certificate of Trust also shows our names as executors, and our 2 adult children's names (as Successor-Executors when we are deceased). The bank is saying that the other state has a law that land in a trust must be recorded, even though they want to put a lien on our property, once/if they approve the loan. They now want a copy of the entire trust which is not only huge, doesn't mention the properties (except as "Real Property and/or Land"; & is an invasion of privacy. Is this true/legal?
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1 ANSWER

Michigan has a specific statute that permits a special real estate certificate of trust which is usually 2 pages long. Most states have this statute.
Answered on Dec 12th, 2016 at 9:03 AM

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