Stone v. Littlefield
Massachusetts Supreme Judicial Court
Two APPEALS from decrees of the Probate Court, upon the account of George S. Littlefield, trustee under the will of Paul Adams, and upon a petition for a construction of the will. Field, J., reserved the case for the consideration of the full court, upon agreed facts, in substance as follows.
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Two APPEALS from decrees of the Probate Court, upon the account of George S. Littlefield, trustee under the will of Paul Adams, and upon a petition for a construction of the will. Field, J., reserved the case for the consideration of the full court, upon agreed facts, in substance as follows. The will of Paul Adams, who died in 1870, after two small specific legacies, contained the following provisions, which alone are material: “Third, I give and bequeath to my beloved wife, Martha Adams, the use and income of all the rest and residue of my estate, real and personal, of which I shall be…
1Opinion of the CourtC. Allen, J.
The trustee received from his predecessor, as part of the trust estate, a note secured by a mortgage of real estate. For non-payment of interest, taxes, and the principal sum, the trustee foreclosed the mortgage, and afterwards sold the land. Before making the sale, he was under the necessity of paying the taxes for two years, which the mortgagor ought to have paid. So far as appears, this investment had yielded no income. The question is whether this expense for taxes shall be deducted from the principal, or be taken from the income of other and productive investments of the same trust…
2Cited by17 opinions
- Parkhurst v. GinnMassachusetts Supreme Judicial Court · 1917
- Poole v. Union Trust Co.Michigan Supreme Court · 1916
- Jordan v. JordanMassachusetts Supreme Judicial Court · 1906
- Sheffield v. CookeSupreme Court of Rhode Island · 1916
- Ogden v. AllenMassachusetts Supreme Judicial Court · 1917
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