(A) A memorandum of trust that satisfies both of the following may be presented for recordation in the office of the county recorder of any county in which real property that is subject to the trust is located:
(1) The memorandum shall be executed by the trustee of the trust and acknowledged by the trustee of the trust in accordance with section 5301.01 of the Revised Code.
(2) The memorandum shall state all of the following:
(a) The name and address of the trustee of the trust;
(b) The date of execution of the trust;
(c) The powers specified in the trust relative to the acquisition, sale, or encumbering of real property by the trustee or the conveyance of real property by the trustee, and any restrictions upon those powers.
(B) A memorandum of trust that satisfies divisions (A)(1) and (2) of this section also may set forth the substance or actual text of provisions of the trust that are not described in those divisions.
(C) A memorandum of trust that satisfies divisions (A)(1) and (2) of this section shall constitute notice only of the information contained in it.
(D) Upon the presentation for recordation of a memorandum of trust that satisfies divisions (A)(1) and (2) of this section and the payment of the requisite fee prescribed in section 317.32 of the Revised Code, a county recorder shall record the memorandum of trust
in the official records described in division (A) (18) of section 317.08 of the Revised Code, if the memorandum of trust describes specific real property, or in the official records described in division (A) (24) of that section, if the memorandum of trust does not describe specific real property
.
Amended by 130th General Assembly File No. 41, HB 72, ยง1, eff. 1/30/2014.
Effective Date: 07-20-2004; 2007 SB134 01-17-2008
Section: Previous 5301.234 5301.24 5301.25 5301.251 5301.252 5301.253 5301.254 5301.255 5301.26 5301.27 5301.28 5301.29 5301.291 5301.30 5301.31 NextLast modified: October 10, 2016