Amends TCA Title 10, Chapter 7; Title 35 and Title 66.

This bill allows the acquisition of an estate in real property in the name of a trust or in the name of the trustee on behalf of the named trust, and requires that title to real property conveyed by the trust be conveyed by the trustee, as trustee of the trust. This provision applies to documents executed prior to, on, and after July 1, 2021. This bill provides that such authorization does not abrogate or amend present law provisions governing a lifetime trust being valid as to any assets held by the trust to the extent the assets have been transferred to the trust. This bill provides that a suit, decree, judgment, sale, mortgage, transfer, lien, deed, power of attorney, or other record referencing a trust must be indexed in the name of the trust, if the name is stated in the document, and in the name of each trustee listed in the document. ON APRIL 28, 2021, THE SENATE ADOPTED AMENDMENT #1 AND PASSED SENATE BILL 881, AS AMENDED. AMENDMENT #1 makes a technical correction by deleting a section of this bill that would have added a cross reference to a nonextant code section.