A trust for real property must be created by a written instrument signed by the party who declares or creates such trust (the “settlor”), or by his or her last will, in writing.

A trust in real property may be filed in the land records of the chancery clerk.

In lieu of filing the trust there may be filed with the chancery clerk, a Memorandum of Trust signed by the maker (settlor) and trustee of the trust containing the following:

• The name of the trust;
• The street and mailing address of the office, and the name and street and mailing address and telephone number of the trustee;
• The name and street and mailing address and telephone number of the settlor of the trust;
• A legally sufficient description of all interests in real property owned by or conveyed to the trust;
• The anticipated date of termination of the trust or the event upon which the trust will be terminated; and
• The general powers granted to the trustee, which may be by reference to the statutory powers granted to the trustee under the terms of the trust instrument.

Filing the trust or Memorandum of Trust is constructive notice to the work of the existence of the trust.

The Memorandum of Trust may also contain other provisions including name, address and phone of any successor trustee. It may be file before or after the transfer of real property to the trust.

The Memorandum of Trust does not have to include the description of the real property if filed before or contemporaneously with a conveyance of any real property to the trust. Nor is a new or amended Memorandum required when additional real property is conveyed to the trust.

In addition, the deed of conveyance may also serve as a memorandum of trust, or an amendment to the memorandum of trust, as the case may be, so long as the deed of conveyance contains the information required for a memorandum of trust.

The settlor or trustee may generally amend or revoke the memorandum.

The Memorandum must be notarized and generally meet the requirements of a deed for filing.

The failure to file a copy of the trust instrument, memorandum or deed of conveyance shall not affect the validity of the trust or the trust instrument.

The above regarding real roperty, does not apply to personal property, or to any trust arising or resulting by implication of law out of a conveyance of land.