Shannonhouse v. . Wolfe

The determinative question is this: Did the trustees named in the deed have the power to execute a mortgage or deed of trust upon the property, and, by sale thereunder, convey a fee-simple title?

The deed does not create an estate on condition subsequent, for the reason that there is no clause of forfeiture, reverter or reentry and other controlling indicia of such an estate. Hall v. Quinn, 190 N. C., 326.

However, the deed does create a trust in favor of the designated beneficiaries because the essential elements of a valid trust concur, to wit: (a) Sufficient words to create it; (b) a…