ENROLLED
ACT No. 225
2015 Regular Session
HOUSE BILL NO. 687
BY REPRESENTATIVE HAZEL
1 AN ACT
2 To amend and reenact R.S. 9:2092(B)(2) and to enact R.S. 9:2029.1 and 2092(B)(1)(g),
3 relative to the recordation of an extract of trust; to provide limitations under certain
4 conditions on the transfer of property owned by a trust; to provide for certain
5 information included in a recorded extract of trust; to provide for the effectiveness
6 against third parties; and to provide for related matters.
7 Be it enacted by the Legislature of Louisiana:
8 Section 1. R.S. 9:2092(B)(2) is hereby amended and reenacted and R.S. 9:2029.1
9 and 2092(B)(1)(g) are hereby enacted to read as follows:
10 §2029.1. Termination of trust; immovable property owned by trust
11 If a trust owns immovable property at the time the trust terminates and the
12 date of termination is not discernable on the face of the recorded trust agreement or
13 extract of trust, the termination shall not cause the dispositive provisions of the trust
14 to have their ultimate effect insofar as third persons are concerned until an act
15 evidencing such termination has been recorded in the conveyance records of the
16 clerk of court of the parish in which the immovable property is located or there is an
17 actual conveyance by the trustee to its beneficiaries pursuant to the termination of
18 the trust.
19 * * *
20 §2092. Recordation of instruments
21 * * *
22 B.(1) For purposes of recording an extract of a trust instrument, such an
23 extract shall be executed by either the settlor or the trustee and shall include all of
24 the following:
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HB NO. 687 ENROLLED
1 (g) Any limitation or restriction on the power of the trustee to sell, lease, or
2 mortgage immovable property contained in the trust instrument.
3 (2) Unless the trust and abstract of trust recite or otherwise note any
4 modification or restriction of the trustee's power or duties, the trustee shall have all
5 of the powers and duties granted to trustees under the Louisiana Trust Code. When
6 an extract of trust is recorded pursuant to Subsection A of this Section, any limitation
7 or restriction in the trust instrument on the power of the trustee to sell, lease, or
8 mortgage immovable property shall not be effective against third persons unless it
9 is noted or recited in the extract of trust.
10 * * *
SPEAKER OF THE HOUSE OF REPRESENTATIVES
PRESIDENT OF THE SENATE
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED:
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.