A Digest of New York Statutes and Reports Volume 5; From the Earliest Period to the Year 1860 (Paperback)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1864 Excerpt: ...Statutes to divide the lands by a valid legal instrument, setting off the share of each in severalty, under the will. Chancery, 1848, Oraig v. Craig, 3 Barb. Ch., 76. Compare, as to validity of trust to make partition, -Hawley -. James, 16 Wend., 61,149; reversing 8. 0., 5 Paige, 818. 97.--to sell and distribute proceeds. A power to sell lands and distribute the proceeds among those to whom the lands are devised, is not one of the purposes for which an express trust may be created. The sale is for the benefit of devisees, not of legatees. It is, however, no objeotion to the validity of a power in trust that it is granted for the same purpose for which an express trust is authorized. 2V. T. Superior Ct, 1852, Lang -. Ropke, 6 Sand/., 863; S. 0., 10 K Y. Leg. 0l., 70. 98.--to hold for beneficiary. The testator devised land in fee, and also gave the devisee a legacy, but, by a codicil, revoked the gifts, directing that the land and money shonld be held by the executors for the personal use and benefit of the devisee, his will being that oreditors should not take them. Held, that the trust was valid 1 Rev. Stat., 728, 65, and that the heirs of the beneficiary would take the fee upon his death. The court would declare the executors to be trustees for the purpose, or appoint other persons, and direct the due application of the rente and income, upon the principle that a trust is not to fail for the want of a trustee, or other cause. V. Chan. Ct., 1883, Stagg v. Beekman, 2 Edw., 89. 99. Nominal trust A trust not authorizing the trustee to take possession, or receive the profits, and not imposing any active duty upon him, is void. A deed to A. in trust to permit the grantor, while of sufficient capacity, and, after his death, his family, to remain i...