2006 South Dakota Code - 55-4-43 — Certificate of trust--Recording or presenting--Documents full trust instrument--Conclusive proof of matters contained therein--Exception.

     55-4-43.   Certificate of trust--Recording or presenting--Documents full trust instrument-- Conclusive proof of matters contained therein--Exception. A certificate of trust executed under § 55- 4-42 may be recorded in the Office of the Register of Deeds with respect to land described in the certificate of trust or any attachment to it. If it is recorded or filed in an county where real property is situated, or in the case of personal property, if it is presented to a third party, the certificate of trust serves to document the existence of the trust, the identity of the trustees, the powers of the trustees and any limitations on those powers, and other matters the certificate of trust sets out, as though the full trust instrument had been recorded, filed, or presented. Until amended or revoked under § 55-4- 44, or until the full trust instrument is recorded, filed, or presented, a certificate of trust is conclusive proof as to the matters contained in it and any party may rely upon the certificate, except a party dealing directly with the trustee or trustees who has actual knowledge of the facts to the contrary.

Source: SL 2000, ch 229, § 9; SL 2002, ch 100, § 18.