Security Savings & Trust Co. v. Lane County

The issue before us is whether a parcel of real property situated in the city of Eugene, improved with an eight-story and a two-story, structure used for office and store purposes, is exempt from taxation. The plaintiff claims that it holds title to this property in trust for the state, and that the state is, therefore, the beneficial owner of the property. It uses this alleged circumstance as the basis for a contention that the property is exempt from taxation. The defendants point to the fact that the legal title is not vested in the state, and contend that if the state has a beneficial…