This Trust Agreement (“Agreement” or “Trust Agreement”) is made by and between
[INSERT TRUSTEE’S NAME HERE] as “Trustee” and the “Beneficiary(ies)” herein, dated
[DATE]. The real property (the “trust estate”) about to be transferred to the Land Trust and listed
in the Schedule of Trust Property attached here to and made part hereof shall be held in trust and
administered and/or distributed as provided in this instrument. The name of the trust created by this
instrument shall be the [PUT YOUR TRUST NAME/NUMBER HERE] Trust. This Agreement
shall be effective immediately on execution by all the parties.

1.1 Purpose of Trust. This trust shall be [REVOCABLE] [IRREVOCABLE]. [NOTE: If
you want to create an Irrevocable Trust include this paragraph (otherwise leave the following
paragraph out):
The Grantor shall have no right or power, whether alone or in conjunction with others, in
whatever capacity, to alter, amend, revoke or terminate this trust or any of the terms of this
Agreement, in whole or in part, or to designate the persons who shall possess or enjoy the trust
property, or the income therefrom. By this Agreement, the Grantor intends to and does hereby
relinquish absolutely and forever every interest of any nature, present or future, in the trust property,
as well as all possession and enjoyment of, or right to the income from, the trust property, whether
directly, indirectly or constructively.
The Trustee shall hold title to real property and protect, conserve, administer, and distribute
the real property described in the Schedule of Trust Property (which is attached hereto and made a
part of this trust instrument), and any other real property that may be hereafter subject to this trust,
and the income and proceeds attributable to all such property, in accordance with the provisions of
this instrument.
1.2 Additions. The Trustee, in its discretion, may accept additions of real property to this
trust from any source by confirming such addition in writing to the Beneficiaries. Additions, if any,
shall become part of the trust and held in accordance with the terms of this trust.
1.3 Deeds to Trustee. The titling of any deed to real property in the name of the Trustee, as
Trustee of this trust, or any successor Trustee of this trust, shall be deemed to be a transfer to this
trust. The Trustee and the Beneficiaries agree that when the Trustee has taken title to the property
transferred to it and accepted by it, that the Trustee will hold the property subject to the trust
purposes and conditions and the purposes and conditions contained in the instrument conveying the
1.4 Type of Trust. Neither this Trust Agreement nor any actions of the Trustee or
Beneficiaries shall be deemed to be, or to create, or be evidence of the existence of a corporation, de
facto or de jure, or a Massachusetts Trust, or any other type of business trust, association, general or
limited partnership, limited liability company or joint venture between or among the creator or
holder of the beneficial shares hereunder or between the Trustee and said Beneficiary or between or
among Beneficiaries of this Trust. This Trust is intended to be a title holding or land trust.



2.1 Use by Beneficiaries. The property of this trust shall be held for the ultimate use and
benefit of the Beneficiary, or Beneficiaries, listed in this Article Two. The Beneficiaries shall have
the proportionate interests stated in paragraph 2.2, if there are multiple Beneficiaries.
2.2 Evidence of Beneficial Interest; Certificates. The following person(s) or entity(ies)
is/are the Beneficiaries of this trust:
Name and Address: (A PO Box address is recommended) Percentage interest:
1. _____________________________________ ___________%
2. _____________________________________ ___________%
Each Beneficiary shall be given a Certificate of Trust Beneficial Interest upon request to the
Trustee indicating his/her/its ownership of a personal property interest in the trust.
2.3 Ownership. The interest of a Beneficiary of this trust shall be solely one of personal
property and may be assigned as such in accordance with paragraph 2.4(d). Legal and equitable title
to the real property held by this trust shall be vested in the Trustee.
2.4 Rights and Powers of Beneficiaries. The Beneficiary(ies) shall have the following
rights and powers:
2.4(a) Power of Direction.
(i) Trustee as Owner.; Beneficiaries Hold Power of Direction. The Trustee is the
sole owner of the property transferred to this trust, and, so far as third parties are concerned,
has full power to deal with said property. However, the present and future Beneficiary(ies) of
this trust shall be the sole holder(s) of the power of direction over the title to trust property
and shall have the sole right to direct the Trustee to convey or otherwise deal with the real
property held by this trust.
(ii) Multiple Beneficiaries; Majority Vote. If there is more than one Beneficiary,
the Beneficiary(ies) shall exercise the power of direction by majority vote.
(iii) Multiple Beneficiaries; One appointed to Direct. If there is more than one
Beneficiary and the Beneficiaries select one of the Beneficiaries to hold the power of
direction, they shall select that person by majority vote and shall appoint such Beneficiary in
writing delivered to the Trustee.


(iv) Authorized Written Direction. It is understood and agreed by all present and
future Beneficiaries hereunder that the Trustee will deal with trust property only when
authorized so to do in writing by the person(s) properly holding the power of direction,
whether that written direction is by the Beneficiary(ies) as provided in (i) above, by one of
the Beneficiaries specifically appointed to exercise the power of direction for multiple
Beneficiaries as provided in (ii) above.
(v) Trustee Subject to Power of Direction. The exercise of the Trustee powers in
shall be subject to this power of direction held by one or more of the Beneficiary(ies).
2.4(b) Right to Proceeds and Avails. The Beneficiary or Beneficiaries shall have
the right to receive the net proceeds from rental or other income, mortgages, net gain from sales or
other dispositions of the real property held by this trust in the same proportion as the shares listed for
each of them in paragraph 2.2. Any benefits to a Beneficiary shall be payable to a Beneficiary, or
distributed to a Beneficiary, at the direction of a Beneficiary, and only upon the Beneficiary’s written
request, which is a privilege that may be exercised only voluntarily and shall not include any involuntary

2.4 (c) Right of Management and Control. The Beneficiary or Beneficiaries shall
have the full power of management and control of the real property held by this trust, and of the
selling, renting, and handling thereof, including the collection of rent and proceeds of sale, and hiring
of property managers. The Beneficiary or Beneficiaries shall also control the payment of taxes,
assessments, insurance and other expenses in connection with the real property. The Trustee shall
have no responsibility with respect to these matters, except on written direction by the
Beneficiary(ies) or their appointed Beneficiary to hold the power of direction, and only after
payment to the Trustee of all funds necessary to carry out such direction.

2.4(d) Right of Assignment. The Beneficiaries, or any one of them, shall have the
full right to assign their interest in the trust in writing to any other person or entity, subject to any
written agreement between or among Beneficiaries that may restrict such assignment. Such
restrictive agreement must be filed with the Trustee in order to be binding on the Trustee. No
assignments or other instruments conveying the interest of any Beneficiary hereunder shall be
binding on the Trustee or any Beneficiary hereunder until the original or an executed duplicate copy
of such assignment or other instrument is filed with and its receipt is acknowledged by the Trustee.
2.5 Right of Succession of Beneficiaries. Upon the death or dissolution of a Beneficiary
during the term of this trust, his, her or its beneficial interest in this trust shall be vested in the
following persons or entities who shall succeed to the deceased or dissolved Beneficiary’s interest
(listed in the same order as the Beneficiary is listed in paragraph.2.2).
Name and Address of Successor in Interest to Beneficiary:
(A PO Box address is recommended)
1. Successor Beneficiary named by first Beneficiary listed in Paragraph 2.2

2. Successor Beneficiary named by second Beneficiary listed in Paragraph 2.2
Successor Beneficiaries are not granted a present vested interest in this trust. The successor
Beneficiary’s interest is a future interest only, or a remainder estate, which can be revoked by the
primary Beneficiary at any time prior to the death or dissolution of the primary Beneficiary or the
termination of the trust if it is created for a specified term of years.
If an individual Beneficiary has not assigned his, her or its interest during lifetime to another,
and for any reason the successor named in this paragraph is unavailable for any reason to receive the
interest of the Beneficiary at the death of the Beneficiary, that interest shall pass to the Beneficiary’s
revocable living trust, and if none, to the estate of the named Beneficiary, however, not to his/her
heirs at law, unless the Beneficiary dies intestate.
If the Beneficiary is an entity that is merged, reorganized or dissolving or dissolved, the
beneficial interest shall pass to the entity’s successor in interest, and if none, to the entity’s
shareholders, members, partners, or owners of other interests in the entity, as the case may be.
The death or legal dissolution of any Beneficiary of this trust shall not terminate this

trust nor in any manner affect the powers of the Trustee of this trust.
2.6 Limitations on Rights and Powers of Beneficiaries. Limitations on Beneficiaries’
rights are as follows:

2.6(a) No Legal or Equitable Rights. No Beneficiary shall have any legal or
equitable right, title or interest in the real property interest held in this trust, but shall have only the
beneficial interest in this trust and the appurtenant personal property rights set forth in this

2.6(b) No Right to Trustee’s Powers. No Beneficiary shall have the right to

affect or carry out the powers of the Trustee.

2.6(c) No Right to Partition. No Beneficiary shall have the right to partition any

real property, the title to which is held by the Trustee of this trust.

2.6(d) No Right to Contract. The Beneficiary(ies) has/have no right or authority
to contract on behalf of the trust or for or in the name of the Trustee or to bind the Trustee in any
way through the Beneficiary’s action. The Beneficiary(ies) are not the agents of the Trustee and the
Trustee is not the agent of the Beneficiary(ies).

2.6(e) No Right to Use Trustee Name. The name of the Trustee shall not be used
by the Beneficiaries in connection with any business transactions or publicity without the written
consent of the Trustee.


3.1 Duties and Responsibilities. Legal and equitable title to the real property held by this
trust shall be held solely by the Trustee. The Trustee shall have the following duties, in addition to
any other duties expressed in other paragraphs of this agreement:

3.1(a) Acting Only When Authorized. While the Trustee is the sole legal owner of
the real property held by this trust, it is understood and agreed by the Trustee and all current and
future Beneficiaries of this trust that the Trustee shall deal with the real property only when
authorized to do so in writing by the Beneficiary(ies), by a Beneficiary selected by multiple
Beneficiaries to hold the power of direction

3.1(b) Trustee to Fulfill Direction. Unless directed in writing by the
Beneficiary(ies), the Trustee has no power to control or influence the real property or any use
thereof, shall have no duty to maintain the trust property or make it productive and shall have no
duty to collect any proceeds or make any payments on behalf of the trust. While the Trustee is the
sole title holder of the real property held in this trust, the Beneficiary(ies) has the sole right to direct
the action of the Trustee.

3.1(c) Duty to Sell or Exchange. Upon written direction of the Beneficiary(ies),
the Trustee shall sell, transfer, or convey the property as directed. Upon written direction of the
Beneficiary(ies), the Trustee shall deliver the property of the trust to the then current Beneficiaries in
the shares set forth in paragraph 2.2 or their successors in interest as provided in paragraph 2.5, or to
whom they shall designate in writing. Trustee will execute and deliver deeds, mortgages or any other
documents when so directed by the holder of the power of direction.

3.1(d) Notification of Claims. In the event the Trustee receives notice of claims or
action against the trust, the Trustee shall promptly notify the Beneficiary(ies) at their most recent
address of record or by email. The Beneficiary(ies) has/have the duty to respond to such claims or
notices and the Trustee shall be held harmless from further action to respond to such claims or
3.2 Trustee Powers. Solely with the consent and written direction of the Beneficiary(ies)
and subject to any limitations stated elsewhere in this instrument, to carry out the purposes of the
trust created under this instrument, the Trustee shall have the following powers:

(a) To hold the legal and equitable title to all of the trust property, and to do all
things and perform all acts necessary and proper for the protection of the trust property and for the
interest of the Beneficiary(ies) in the property of the Trust, subject to the restrictions, terms, and
conditions set forth herein and in any deed conveying an interest in real property to this trust;
(b) To purchase or sell any real property, to assume mortgages upon the
property for the Trust at such times and on such terms as directed by the Beneficiary(ies) o; to
execute notes, deeds, contracts, options, mortgages upon such terms as directed by the
Beneficiary(ies), and otherwise deal with the trust property or its proceeds from disposition as may
be directed by the Beneficiaries;

(c) To retain property received into the trust at its inception or later added to the

trust, without regard to whether the trust investments are diversified.

3.3 Power to Delegate. The Trustee may from time to time delegate in writing to a special
trustee, or an agent acting on its behalf, the Trustee’s authority to take actions hereunder.
3.4 Limitations on Trustee’s Powers. The Trustee shall not have or exercise any powers
other than those expressly granted to it under the terms of this Agreement, and is not authorized to
engage in any activity not necessary to the stated purposes of the trust. The Trustee shall not transact
business within the meaning of applicable state law, or any other law.
3.5 Removal; Resignation; Replacement of Trustee.
3.5(a) Removal and Replacement. The Beneficiary(ies) shall have the right to
remove and replace the Trustee at any time by written notice to the Trustee. If the right to remove
and replace the Trustee is held by multiple Beneficiaries, the removal and the replacement of a
Trustee shall be by majority vote. Such removal shall become effective immediately. Upon written
notification of removal, the acting Trustee shall immediately forward by overnight delivery service
all trust records in his/her/its possession to the successor Trustee, or if none yet appointed, to the
Beneficiary(ies). The Beneficiary(ies) shall replace the removed Trustee promptly with a successor
Trustee who shall accept his/her/its appointment in writing.

3.5(b) Resignation and Replacement. The Trustee may at any time resign as
Trustee hereunder by hand delivery or by mailing by registered mail (to the address last known by
the Trustee) a copy of it its written resignation to each of the then Beneficiaries hereunder at the
addresses last known to the Trustee. Such resignation shall become effective upon the appointment
of a Successor Trustee as provided in Paragraph 3.5(a) above, or without further notice thirty (30)
days from the date of such mailing or delivery, whichever is earlier.

3.5(c) Duties of Terminated Trustee. The Trustee shall immediately convey the
Trust property to the successor Trustee. Thereafter, the terminated Trustee shall still be bound under
law by the duty of loyalty and is therefore enjoined not to disclose any of the affairs of the trust, the
identities of any of the Beneficiaries, past or present, or the location and/or description of trust assets
except under a lawful court order issued by a duly constituted court of competent jurisdiction in the
legal domicile of the trust. Failure to maintain trust confidentiality shall make the Trustee personally
liable for any damages, which might ensue or be sustained by any party whatsoever or whomever as
a result of said breach of trust (refer also to paragraph 4.1 regarding limitations of Trustees).
3.5(d) Trustee Lien. A departing or departed Trustee shall continue to have a lien
on trust property if amounts due the Trustee remain unpaid; the provisions of paragraph 4.3 herein
shall continue to apply.

3.5(e) Successor Trustee Rights and Duties. Upon accepting the office of
Trustee, the successor Trustee shall succeed to the title of all property held by this trust and shall be
subject to all provisions of this Agreement. A successor Trustee properly appointed under the terms
of this Article Three who has accepted the role of successor Trustee in writing shall be vested with
all the estate, rights, powers, trusts, duties and obligations of his predecessor. All rights, powers,
authority, immunity and discretion herein granted or conferred upon the original Trustee shall
survive to and may be exercised or applied in the same manner and to the same extent by or for any
successor or substitute that may at any time be acting hereunder. Each Trustee shall be responsible
only for its own acts or omissions. A successor Trustee shall not be required to audit or investigate

the acts or administration of any predecessor and shall be relieved of all liability for failing to do so.
Reference herein to the Trustee shall include any company, corporation or association that may
become a successor trustee or any successor corporation which may succeed to a corporate trustee's
business and such successor shall be bound by all the terms of this Agreement.

3.5(f) Default Successor Trustees. In the case of the resignation, refusal, removal
or inability to act of a Trustee where no successor has been effectively appointed under this Article
Three, the following person(s) or entities shall serve as Trustee:
These named persons or entities shall act [SUCCESSIVELY IN THIS ORDER] [JOINTLY

3.5(g) Failure to Appoint Successor Trustee. If no successor is duly appointed
under 3.5(a) or within the thirty (30) days provided in 3.5(b), and no successor Trustee named in
3.5(e) is available to act, the Trustee may convey the Trust property by Quitclaim or Trustee’s Deed,
to the then Beneficiaries in accordance with their respective interests hereunder. Upon the delivery of
said Quitclaim or Trustee’s Deed to the Recorder of Deeds or the Registrar of Title for recordation,
the Trust hereby created shall be terminated.
3.6 Duty Not To Disclose. The Trustee is bound never to reveal the name of the Beneficiary
nor the Beneficiary’s location nor ever to allow anyone to view the trust agreement without unanimous
written consent of the owners of the beneficial interests or a written court order (issued by a duly
constituted court of competent jurisdiction in the legal domicile of the trust), which court order contains
an indemnification clause protecting the Trustee from a lawsuit for breach of trust. The Trustee’s only
recourse if this provision of paragraph 3.6 is not adequately met is to resign without taking any action
other than forwarding all documents to the new Trustee in accordance with paragraph 3.5.

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