Nirdlinger's Estate (No. 2)

Opinion by

Mr. Justice Schaefer,

For the first time there arises before this court the question of the apportionment between life tenant and remainderman of the proceeds of a mortgage investment, where a trustee has had to foreclose the mortgage, buy the property covered at the foreclosure sale, hold it for a time and then sell it at a loss. The question has arisen in several other jurisdictions. Most of them are in agreement that apportionment should be made: Perry on Trusts (7th Ed.), Sec. 548c; 4 Bogert on Trusts and Trustees, Sec. 820. They differ as to method and formula only: 4 Bogert on…