In Re the Transfer Tax Upon Certain Trusts Made by Bostwick
New York Court of Appeals
Appeal from an order of the Appellate Division of the Supreme Court in the first judicial department, entered March 20, 1899, which affirmed a decree of the Surrogate’s Court of the county of New York, imposing a transfer tax upon the appellants for property received by them under certain trust deeds executed by Jabez A. Bostwiok, deceased. Mr. Bostwiok, in his lifetime, made several transfers of property to the New York Life Insurance & Trust Company, as trustee.
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Appeal from an order of the Appellate Division of the Supreme Court in the first judicial department, entered March 20, 1899, which affirmed a decree of the Surrogate’s Court of the county of New York, imposing a transfer tax upon the appellants for property received by them under certain trust deeds executed by Jabez A. Bostwiok, deceased. Mr. Bostwiok, in his lifetime, made several transfers of property to the New York Life Insurance & Trust Company, as trustee. Three of these trust deeds were made in 1889 and transferred the property described therein in trust for his three sisters during…
1Opinion of the CourtGray, J.
We are inclined to concur with the opinion, entertained by the learned justices of the Appellate Division, that Bostwick did not, in fact, during his lifetime, dispose of the property affected by these trust deeds; inasmuch as,_ after their delivery to the trustee, he not only was entitled at any time to revest himself with the ownership of the property, but he continued to be able, in some cases, to enjoy it and, in all cases, practically, to manage and to dispose of it, as effectually as he might previously have done.
The only difficulty, which arises, is with respect to the two trust…
2Cited by42 opinions
- Dolan's EstateSupreme Court of Pennsylvania · 1924
- People v. Northern Trust Co.Illinois Supreme Court · 1919
- In Re the Transfer Tax Upon the Estate of SchmidlappNew York Court of Appeals · 1923
- In re the Transfer Tax upon the Estate of BowersAppellate Division of the Supreme Court of the State of New York · 1921
- Dexter v. Treasurer & Receiver GeneralMassachusetts Supreme Judicial Court · 1923
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