2006 Code of Virginia § 55-550.13 - Certification of trust

55-550.13. Certification of trust.

A. Instead of furnishing a copy of the trust instrument to a person otherthan a beneficiary, the trustee may furnish to the person a certification oftrust containing the following information:

1. That the trust exists and the date the trust instrument was executed;

2. The identity of the settlor;

3. The identity and address of the currently acting trustee;

4. The powers of the trustee;

5. The revocability or irrevocability of the trust and the identity of anyperson holding a power to revoke the trust;

6. The authority of cotrustees to sign or otherwise authenticate and whetherall or less than all are required in order to exercise powers of the trustee;

7. The trust's taxpayer identification number; and

8. The manner of taking title to trust property.

B. A certification of trust may be signed or otherwise authenticated by anytrustee.

C. A certification of trust shall state that the trust has not been revoked,modified, or amended in any manner that would cause the representationscontained in the certification of trust to be incorrect.

D. A certification of trust need not contain the dispositive terms of a trust.

E. A recipient of a certification of trust may require the trustee to furnishcopies of those excerpts from the original trust instrument and lateramendments that designate the trustee and confer upon the trustee the powerto act in the pending transaction.

F. A person who acts in reliance upon a certification of trust withoutknowledge that the representations contained therein are incorrect is notliable to any person for so acting and may assume without inquiry theexistence of the facts contained in the certification. Knowledge of the termsof the trust may not be inferred solely from the fact that a copy of all orpart of the trust instrument is held by the person relying upon thecertification.

G. A person who in good faith enters into a transaction in reliance upon acertification of trust may enforce the transaction against the trust propertyas if the representations contained in the certification were correct.

H. A person making a demand for the trust instrument in addition to acertification of trust or excerpts is liable for damages if the courtdetermines that the person did not act in good faith in demanding the trustinstrument.

I. This section does not limit the right of a person to obtain a copy of thetrust instrument in a judicial proceeding concerning the trust.

(2005, c. 935.)