Title 53, Chapter 12, Section 50
( 53-12-50)
As used in this article, the term: (1) "Deed" means and includes any written agreement, declaration
of trust, or other instrument which creates a trust estate in the
trustee or trustees named therein and sets forth the terms and
conditions of the trust and which indicates an intention, either
expressly or by implication, that the trust estate created therein
should be subject to this article, but the word shall not include
every warranty deed, quitclaim deed, bill of sale, or other
instrument which conveys title to property to a trustee, merely by
virtue of such fact alone. (2) "Estate" means any alienable interest in property, legal or
equitable, freehold or nonfreehold, possessory or nonpossessory. (3) "Property" means and includes improved or unimproved property,
real or personal, leaseholds, mortgages, notes, or other
obligations secured by property or any interest therein, or other
interests in such property. |