HLS 12RS-753 REENGROSSED
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Regular Session, 2012
HOUSE BILL NO. 469
BY REPRESENTATIVE ABRAMSON
RECORDS/RECORDATI ON: Provides with respect to property held in a trust
AN ACT1
To amend and reenact R.S. 9:2092(A) and (B)(2) and 2262.2(A) and (B)(2), to enact R.S.2
9:2092(B)(3) and 2262.2(B)(3), and to repeal R.S. 9:2092(B)(1)(f) and3
2262.2(B)(1)(g), relative to property held in a trust; to provide for recordation of4
certain documents; to provide for the contents of an extract of trust relative to the5
authority of a trustee; and to provide for related matters.6
Be it enacted by the Legislature of Louisiana:7
Section 1. R.S. 9:2092(A) and (B)(2) and 2262.2(A) and (B)(2) are hereby amended8
and reenacted and R.S. 9:2092(B)(3) and 2262.2(B)(3) are hereby enacted to read as follows:9
§2092. Recordation of instruments10
A. If at any time the trust property of either an inter vivos trust or a11
testamentary trust includes immovables or other property the title to which must be12
recorded in order to affect third parties, a trustee shall file the trust instrument, or an13
extract thereof, of trust, or a copy of the trust instrument or extract of trust certified14
by the clerk of court for the parish in which the original trust instrument or extract15
of trust was filed, for record in each parish in which the property is located.16
B.17
* * *18
(2) Unless the extract of trust recites or otherwise notes any restrictions or19
limitations on the trustee's authority, no alienation or encumbrance of trust property20
shall be set aside on the ground that the trustee did not have all of the powers granted21 HLS 12RS-753 REENGROSSED
HB NO. 469
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to trustees under the Louisiana Trust Code, except if the transferee or purchaser of1
the trust property participated with the intent to defraud or committed fraud in the2
transaction.3
(3) The provisions of this Section authorizing the filing of an extract of the4
trust instrument or a clerk-certified copy of the trust instrument or extract of trust5
without a description of the property are remedial and shall be applied retroactively6
to any trust extract or clerk-certified copy of either the trust instrument or extract of7
trust theretofore filed for record which is in substantial compliance with the8
provisions of this Subsection, and such extract or clerk-certified copy shall affect9
third persons as of the date of recordation. If the extract of an inter vivos trust10
instrument or clerk-certified copy thereof is recorded, the failure of the trust11
instrument to be in the form required by R.S. 9:1752 shall not be effective against12
third parties, who shall be immune from claims based on the failure of the trust13
instrument to be in the form required by R.S. 9:1752.14
* * *15
§2262.2. Recordation of instruments16
A. If at any time the trust property of a foreign trust includes an immovable17
or other property in Louisiana the title to which must be recorded in order to affect18
third parties, a trustee shall file the trust instrument, or an extract thereof, of trust, or19
a copy of the trust instrument or extract of trust certified by the clerk of court for the20
parish in which the original trust instrument or extract of trust was filed, for record21
in each parish in which the property is located.22
B.23
* * *24
(2) Unless the extract of trust recites or otherwise notes any restrictions or25
limitations on the trustee's authority, no alienation or encumbrance of trust property26
shall be set aside on the ground that the trustee did not have all of the powers granted27
to trustees under the Louisiana Trust Code, except if the transferee or purchaser of28 HLS 12RS-753 REENGROSSED
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the trust property participated with the intent to defraud or committed fraud in the1
transaction.2
(3) The provisions of this Section authorizing the filing of an extract of the3
trust instrument or a clerk-certified copy of the trust instrument or extract of trust4
without a description of the property are remedial and shall be applied retroactively5
to any trust extract or clerk-certified copy of either the trust instrument or extract of6
trust theretofore filed for record which is in substantial compliance with the7
provisions of this Section, and such extract shall affect third persons as of the date8
of recordation.9
Section 2. R.S. 9:2092(B)(1)(f) and 2262.2(B)(1)(g) are hereby repealed in their10
entirety.11
DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part
of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute
part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
Abramson HB No. 469
Abstract: Authorizes a trustee of an inter vivos trust, a testamentary trust, or a foreign trust
that includes immovable property to file a recorded copy of either the trust document
or extract which is certified by the clerk of court.
Present law provides that if the trust property of either an inter vivos trust, a testamentary
trust, or a foreign trust includes immovables or other property the title to which must be
recorded, a trustee shall file the trust instrument or an extract thereof in each parish in which
the property is located.
Proposed law retains present law and authorizes recording a copy of either the trust
instrument or extract which is certified by the clerk of court.
Present law provides that an extract of the trust shall include the name of the trust, a
statement as to whether the trust is revocable or irrevocable, the name of each settlor, the
name of each trustee and name or other description of the beneficiary or beneficiaries, the
date of execution of the trust, and a brief description of the immovable property or other
property subject to the trust, the title to which must be recorded in order to affect third
persons.
Proposed law deletes the requirement to include a brief description of the immovable
property or other property subject to the trust.
Proposed law provides that unless the extract of trust recites any restrictions on the trustee's
authority, no alienation or encumbrance of trust property shall be set aside on the ground that
the trustee did not have all of the powers granted to trustees under the La. Trust Code, except
in cases of fraud by the purchaser. HLS 12RS-753 REENGROSSED
HB NO. 469
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Proposed law provides that the authorization to file an extract of the trust instrument or a
clerk-certified copy of the trust instrument or extract of trust without a description of the
property shall be applied retroactively to any trust extract or clerk-certified copy of either
the trust instrument or extract of trust filed for record.
(Amends R.S. 9:2092(A) and (B)(2) and 2262.2(A) and (B)(2); Adds R.S. 9:2092(B)(3) and
2262.2(B)(3); Repeals R.S. 9:2092(B)(1)(f) and 2262.2(B)(1)(g))
Summary of Amendments Adopted by House
Committee Amendments Proposed by House Committee on Civil Law and Procedure
to the original bill.
1. Added provisions clarifying that the trustee shall file the trust instrument or
extract of trust in each parish in which the trust property is located.
House Floor Amendments to the engrossed bill.
1. Changed references from the "recorder of mortgages" to "clerk of court".
2. Added an exception for cases of fraud by the purchaser.