Cases and Statutes on Trusts and Powers; Perpetuities, Accumulations and Charitable Uses in New York (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.1914 Excerpt: ... CASES ON TRUSTS AND POWERS, ETC. CHAPTER L EXPRESS TRUSTS AND POWERS IN TRUST. Section 1.--Express Trusts of Real Property. COSTER v. LORILLARD. 14 Wendell, 265. 1835. Appeat, from Chancery. George Lorillard, of the city of New York, died in September, 1832, a bachelor, possessed of a large real and personal property, worth about three millions of dollars; most of which was in real estate in the city of New York, and the annual income of which at the time of his death was from eighty to one hundred thousand dollars. His mother was living at the time of his death, but she survived him but a few days. He left two brothers of the whole blood, Jacob and Peter Lorillard; one brother and one sister of the half blood, Daniel Holsman and Catharine, the wife of John G. Coster; a niece, Maria R. Bartow, a daughter of a deceased brother, Blaze Lorillard, and two grandnephews, George and Blaze Lorillard, children of a deceased son of his brother Blaze Lorillard--who, upon the death of his mother, were the only heirs at law. By the will of G. Lorillard, the decedent, made in October, 1831, and executed in due form of law to pass real estate, he appointed his brother Jacob Lorillard, and twelve nephews and nieces of the whole blood, children of his brothers Jacob, Peter and Blaze, trustees and executors of such will. He also devised and bequeathed to such executors and trustees, as joint tenants and not as tenants in common, all his real and personal estate, in trust to and for the uses and purposes in the will declared, and which were as follows: First. As to his real estate in the city of New York, to lease the same from time to time, and to receive the rents and profits thereof; and out of such rents and profits to pay a legacy of $20,000 to the Theological Seminary o...