Massachusetts Business Trust
Trusts and Trustees
There are no statutes that I am aware of regarding trusts with transferable shares that are comparable to G.L.c. 62C, §51. There is no lien that needs to be addressed concerning rusts transfers as there is in the case of transfers by a corporation. Therefore, there is no necessity to consult with the secretary of state to determine if annual filing fees are current. Moreover, although the failure to file a Massachusetts business trust or the annual statements of condition with the secretary of state will subject the violators to the possibility of fines and imprisonment (See G.L.c. 182, §§1, 4), such failure will not render the trust a nullity for purposes of holding and conveying title if it has been recorded with the registry of deeds. See Swartz v. Sher, 344 Mass. 636, 184 N.E.2d 51 (1962).