Section 565.435 - Protection afforded party relying on information in recorded certificate of trust existence and authority; further examination of trust agreement.
RECORDING TRUST AGREEMENT OR CERTIFICATE OF TRUST EXISTENCE AND AUTHORITY (EXCERPT)
Act 133 of 1991
565.435 Protection afforded party relying on information in recorded certificate of trust existence and authority; further examination of trust agreement.
Sec. 5.
A purchaser or other party relying upon the information contained in a recorded certificate of trust existence and authority shall be afforded the same protection as is provided to a subsequent purchaser in good faith under section 29 of chapter 65 of the Revised Statutes of 1846, being section 565.29 of the Michigan Compiled Laws, and shall not be required to further examine the trust agreement, unless an instrument amending or revoking the trust agreement or certificate of trust existence and authority is recorded in the same office in which the trust agreement or certificate of trust existence and authority was recorded.
History: 1991, Act 133, Imd. Eff. Nov. 6, 1991