Craig v. Commissioner
United States Board of Tax Appeals
1. Under the laws of Pennsylvania as they existed prior to June 7, 1917, executors of a will had no right to the rents arising from the real estate of the decedent unless such right was conferred upon them by the will and such rents, although collected by the executors, did not become income of the estate but remained the income of the devisees. 2. Where the devisees under a will conferred upon the executors power to collect and make certain dispositions of the rents of real…
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1. Under the laws of Pennsylvania as they existed prior to June 7, 1917, executors of a will had no right to the rents arising from the real estate of the decedent unless such right was conferred upon them by the will and such rents, although collected by the executors, did not become income of the estate but remained the income of the devisees. 2. Where the devisees under a will conferred upon the executors power to collect and make certain dispositions of the rents of real estate devised to them, the executors acted as the agents of the devisees and receipt of rent by such agents was…
1Opinion of the Court
*515OPINION.
Milliken:
The petitioners contend, first, that the income from the real estate devised to them by Joseph W. Craig, deceased, was income received by the estate of said testator while in process of administration, and was taxable to the executors, and, second, if this is not true, they then contend that the income was received by said executors under the agreement of June 24, 1912, between them and the petitioners; that this agreement created a trust; that under the terms of the agreement, the income was distributable at the discretion of the executors; and that the income should be…
2Cases cited18 opinions
- Hunt v. Rousmanier's AdministratorsSupreme Court of the United States · 1823
- Taylor v. Davis' AdministratrixSupreme Court of the United States · 1884
- Hospes v. Northwestern Manuf'g & Car Co.Supreme Court of Minnesota · 1892
- Seymour v. FreerSupreme Court of the United States · 1869
- Appeal of FrossSupreme Court of Pennsylvania · 1884
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3Cited by2 opinions
- Craig v. CommissionerUnited States Board of Tax Appeals · 1927
- Craig v. CommissionerUnited States Board of Tax Appeals · 1928