76-266. Trust deeds executed prior to 1917; failure to name beneficiary and record; presumption of authority of trustee to convey.
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/ne/chapter-76/76-266A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
When any conveyance of the title to, or any interest in, or any lien on real estate shall have been made prior to July 24, 1917, to any person or corporation as trustee and no beneficiary is named therein, and no declaration of the terms of the trust shall have been made in writing and recorded in the office of the register of deeds of the county in which such real estate is located, and such person or corporation as trustee has thereafter conveyed said title or interest, or assigned or released said lien, it shall be presumed that such trustee had the power and authority to make such conveyance, assignment or lease.
In all actions which may be brought after July 24, 1919, by any person claiming a right or interest in or to said real estate, or a lien thereon adverse to such conveyance, assignment or release by said trustee, the presumption that such trustee had power and authority to make such conveyance, assignment or release shall be conclusive.
If no declaration of terms of trust have been recorded, trustee holding legal title will be conclusively presumed to have had authority to enter into lease. Bauer v. Bauer, 136 Neb. 329, 285 N.W. 565 (1939).
Mere insertion of trustee after name of patentee does not prevent grantee from transferring to another where trust is not disclosed. Perry v. Ritze, 110 Neb. 286, 193 N.W. 758 (1923).