Invalidating a deed of trust

"Transfer" means every direct or indirect, absolute or conditional, and voluntary or involuntary method of disposing of or parting with an asset or an interest in an asset, and includes payment of money, release, lease, and creation of a lien or other encumbrance.

invalidating a deed of trust-64invalidating a deed of trust-74invalidating a deed of trust-86

With respect to an asset that is not real property or that is a fixture, when the transfer is so far perfected that a creditor on a simple contract cannot acquire a judicial lien otherwise than under ss.

726.101-726.112 that is superior to the interest of the transferee.

A trust cannot be created unless there is trust property.

Property may be added to an existing trust from any source in any manner unless the addition is prohibited by the terms of the trust or the property is unacceptable to the trustee.

A promise to create a trust in the future is enforceable only if the requirements for an enforceable contract are present.

Consideration is not required for the creation of a trust.

A trust may be created by:(1) a property owner's declaration that the owner holds the property as trustee for another person;(2) a property owner's inter vivos transfer of the property to another person as trustee for the transferor or a third person;(3) a property owner's testamentary transfer to another person as trustee for a third person;(4) an appointment under a power of appointment to another person as trustee for the donee of the power or for a third person; or(5) a promise to another person whose rights under the promise are to be held in trust for a third person.

A trust is created only if the settlor manifests an intention to create a trust.

Though it has at times been thought that a "will" was historically limited to real property while "testament" applies only to dispositions of personal property (thus giving rise to the popular title of the document as "Last Will and Testament"), the historical records show that the terms have been used interchangeably.


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