Trust Agreementt-General Form Template printable pdf download

Trust agreement—General form.

This trust agreement, dated _________, is to certify that _________[a banking corporation organized under

the laws of the United States], as trustee under this agreement, is about to take title to the following described real

estate in the County of _________, State of _________: _________[legal description], and that when trustee has

taken the title to it, or to any of the real estate deeded to it as trustee here, trustee will hold it for the uses and

purposes and on the trusts set forth here.

1. Names, addresses, and interests of beneficiaries. The following named persons are the beneficiaries of this

trust, and shall be entitled to the earnings, avails, and proceeds of the trust property according to the respective

interests set forth here:

Name

Address

Interest

2. Interests of beneficiaries as personalty. The interests of the beneficiaries here shall consist solely of: (a) a

power of direction to deal with title to the trust property, (b) a power to manage and control the property as provided

here, and (c) the right to receive the proceeds from rentals and from mortgages, sales, or other disposition of the

property. The right to the avails and proceeds of the property shall be deemed to be personal property and may be

assigned and transferred as personal property.

In case of the death of any beneficiary during the existence of this trust, the beneficiary's right and interest here

shall, except as otherwise specifically provided here, pass to the beneficiary's executor or administrator, and not to

his or her heirs at law. No beneficiary now has or shall have any right, title, or interest in or to any proportion of any

real estate, either legal or equitable, but only an interest in the earnings, avails and proceeds from it.

3. Effect of death of beneficiary. The death of any beneficiary shall not terminate the trust or in any manner affect

the powers of trustee.

4. Assignment of beneficial interests. No assignment of any beneficial interest here shall be binding on trustee

until the original or a duplicate of the assignment in a form satisfactory to trustee is delivered to trustee. Any

assignment not so delivered to trustee shall be void as to all subsequent assignees or purchasers without notice.

5. Filing of income tax returns. Trustee shall not be obligated to file any income, profit or other tax reports or

schedules; the beneficiaries shall individually make all such reports, and pay any and all taxes on the earnings, avails

and proceeds of the trust property or growing out of their interest here.

6. Reimbursement and indemnification of trustee. If trustee makes any advances of money on account of this

trust, is made a party to any litigation on account of holding title to the real estate or in connection with this trust, or

is compelled to pay any sum of money on account of this trust, whether on account of breach of contract, injury to

personal property, fines or penalties under any law or otherwise, the beneficiaries will on demand pay to trustee, with

interest at the rate of _________ percent per year, all disbursements or advances or payments of this nature made by

trustee, together with trustee's expenses, including reasonable attorneys' fees. Trustee shall not be called on to

convey or otherwise deal with the trust property at any time held here until all of these disbursements, payments,

advances, and expenses made or incurred by trustee have been fully paid, together with interest. Trustee shall not be

required to advance or to pay out any money on account of this trust or to prosecute or defend any legal proceeding

involving this trust or any property or interest here unless trustee is furnished with sufficient funds or is

satisfactorily indemnified.

7. Protection of third parties dealing with trustee. No party dealing with trustee in relation to the trust property in

any manner whatsoever, and no party to whom the property or any part of it or interest in it is conveyed, contracted

to be sold, leased, or mortgaged by trustee, shall be obliged to see to the application of the purchase money paid or

to inquire into the necessity or expediency of any act of trustee or the provisions of this instrument.

8. Trust agreement not to be recorded. This agreement shall not be placed on record in the recorder's office of the

county in which the trust property is situated, or elsewhere. This type of recording shall not be considered notice of

the rights of any person here derogatory to the title or powers of trustee.

Trust Agreementt-General Form Template

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