What is a Memorandum of Trust? A Memorandum of Trust is a synopsis of a trust that is used when transferring real property into a trust. It’s then recorded in county in which the property is owned. The Memorandum of Trust is used in place of the actual trust to identify the grantor and trustees as well as the basic details of the trust.
A Certification of Trust is similar to the Memorandum of Trust however a Certification of Trust does not need to be recorded. A Certification of Trust is used in place of the actual trust to open up an account on behalf of a trust at a financial institution. The principal, or assets, are then put into the account to fund the trust. The Certification of Trust and Memorandum of Trust, although similar, are used for different purposes.