MALLORY REALTY COMPANY v. Jones

Quillian, Chief Judge.

This is an action to recover rent collected by defendant on property owned by plaintiffs.

In 1964 Arthur Mallory died leaving a wife (Cecelia), four children (Richard, Rachel, Alice and Arthur, Jr.), numerous parcels of real property in LaGrange and Troup County, and 90 percent ownership of Mallory Realty Co. By will a trust was established with Richard and Arthur as trustees to operate Mallory Realty and the real property for the benefit of the widow and four children. In 1970 the trust beneficiaries entered into a settlement agreement terminating the trust whereby…