Certification Of Trust Vs Trust Agreement

A certificate of trust (or “certificate of trust”) is a succinct document, signed by the agent, that simply states the essential conditions of the trust and certifies the authority of the trust without disclosing the private details of the trust that are not relevant to the current transaction. It bridges the gap between what a lender needs to know and what an agent wants to reveal – a real win-win situation. I am clearly very passionate about this subject. As I said, I`ve always experienced the same song and dance with the banks. In addition, I played these “games” on several occasions with the same banks. I do my best to warn customers of what they can expect from banks when creating their new trusts and that they should not be surprised by a request for the entire trust agreement, nor should they meet that demand. One of the reasons bankers regularly request the entire trust agreement (sometimes even require) is that they are informed by their compliance staff (i.e. in-house counsel and others) that they need to do so. In fact, this is the most frequent response I have given when I have conversations with bankers on behalf of my clients. Normally, on the other end of the phone, email, or switch, the person just does their job and follows the instructions and requirements given to them. This is quite understandable and commendable work of a responsible employee. .