Morriss Realty Co. v. Commissioner
United States Board of Tax Appeals
1. Where a father creates a trust and constitutes his sons trustees, the avowed purpose of the trust being the liquidation of the settlor's property, no control over the trustees being vested in the beneficiaries, held, a trust and not an association.
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1. Where a father creates a trust and constitutes his sons trustees, the avowed purpose of the trust being the liquidation of the settlor's property, no control over the trustees being vested in the beneficiaries, held, a trust and not an association. (Trust No. 1.) 2. Where the settlors of a trust are two brothers, and their children are made trustees and beneficiaries, the purpose being liquidation of the property, the control of trustees by beneficiaries being limited and the beneficiaries' certificates of interest nontransferable, held, a trust and not an association. (Trust No. 2.)
1Opinion of the Court
MORRISS REALTY COMPANY TRUST NO. 1, JULIA L. MORRISS, VERNON S. MORRISS, ALEXANDER W. MORRISS, JR., AND HERBERT S. MORRISS, TRUSTEES FOR EDITH MEPHAM, JULIA L. MORRISS, VERNON S. MORRISS, ALEXANDER W. MORRISS, JR., HERBERT A. MORRISS AND HERBERT S. MORRISS, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
MORRISS REALTY COMPANY TRUST NO. 2, JULIA L. MORRISS, VERNON S. MORRISS, ALEXANDER W. MORRISS, JR., AND HERBERT S. MORRISS, TRUSTEES FOR EDITH MEPHAM, JULIA L. MORRISS, VERNON S. MORRISS, ALEXANDER W. MORRISS, JR., HERBERT A. MORRISS AND HERBERT S. MORRISS, PETITIONERS, v.…
2Cases cited1 opinion
- Morriss Realty Co. v. CommissionerUnited States Board of Tax Appeals · 1931