Legal Opinion
Farm Credit Bank of Wichita v. Woodring
Supreme Court of Oklahoma
Decided April 27, 1993No. 74949PublishedCited by 5 opinions
1Opinion of the Court
KAUGER, Justice:
The issue presented is whether a cause of action brought by the creditors of a defaulting trust for the fraudulent transfer of unencumbered trust realty becomes moot when the trust is terminated by the pretrial death of the trustor. We find that because a trustee has a duty to pay valid trust debts before distributing trust property, the pretrial death of a trustor does not moot a cause of action for fraudulent transfer 1 pursuant to the Uniform Fraudulent Transfer Act (Fraudulent Transfer Act), 2 24 O.S.1991 § 117. 3
FACTS
On January 24, 1972, Cecelia Simons Woodring (Trustor)…
2Cases cited16 opinions
- Westgate Oil Co. v. Refineries Production Co.Supreme Court of Oklahoma · 1935
- Edwards v. Hanna Lumber CompanySupreme Court of Oklahoma · 1966
- Rothwell v. RothwellMassachusetts Supreme Judicial Court · 1933
- Oklahoma Nat. Bank v. CobbSupreme Court of Oklahoma · 1915
- Daly v. CrawfordMassachusetts Supreme Judicial Court · 1932
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3Cited by5 opinions
- Burrows v. BurrowsSupreme Court of Oklahoma · 1994
- International Union of Police Associations, Local No. 24 v. City of LawtonCourt of Civil Appeals of Oklahoma · 2009
- Burford Manor, Inc. v. DeelCourt of Civil Appeals of Oklahoma · 1994
- Burrows v. BurrowsSupreme Court of Oklahoma · 1994
- Growtech Industries LLC v. Mary Mechanix LLPDistrict Court, W.D. Oklahoma · 2022