Spencer v. . Spencer
New York Court of Appeals
Appeal from a judgment of the Appellate Division of the Supreme Court in the first judicial department, entered August 27, 1915, which affirmed a judgment of Special Term judicially settling the accounts of the plaintiffs as trustees, also bringing up for. review an order denying the application of defendant Caroline S. Spencer for permission to amend her answer. The facts, so far as material, are stated in the opinion.
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Appeal from a judgment of the Appellate Division of the Supreme Court in the first judicial department, entered August 27, 1915, which affirmed a judgment of Special Term judicially settling the accounts of the plaintiffs as trustees, also bringing up for. review an order denying the application of defendant Caroline S. Spencer for permission to amend her answer. The facts, so far as material, are stated in the opinion. The rule that taxes on real estate are a charge upon the income of the life tenant rather than the principal contemplates income-producing real estate and must always yield to…
1Opinion of the CourtCuddeback, J.
The question in this case is whether the taxes and other carrying charges on certain real estate left in trust by the testator shall be paid out of income or shall be charged to the principal of the' trust estate.
Lorillard Spencer, 2d, died March 14, 1912, leaving a last will and testament dated April 27, 1911, which contained the following, among other, provisions:
“ Third. Whereas I now have a one-third (%) interest in a certain farm situated at Williamsbridge, Borough of Bronx, City of New York, which interest I acquired under the Last Will and Testament of my brother, Charles Gr. Spencer,…
2Cases cited7 opinions
- Woodward v. . JamesNew York Court of Appeals · 1889
- Lawrence v. . LittlefieldNew York Court of Appeals · 1915
- In Re the Judicial Settlement of the Account of AlbertsonNew York Court of Appeals · 1889
- Sheffield v. CookeSupreme Court of Rhode Island · 1916
- In re PitneyAppellate Division of the Supreme Court of the State of New York · 1906
2 more not listed; retrieve them via the Exa API.
3Cited by42 opinions
- In Re the Accounting of Brooklyn Trust Co.New York Court of Appeals · 1932
- Furniss v. . CruikshankNew York Court of Appeals · 1921
- Mulcahy v. JohnsonSupreme Court of Colorado · 1927
- In Re the Accounting of RowlandNew York Court of Appeals · 1937
- Gould v. GouldNew York Supreme Court · 1925
37 more not listed; retrieve them via the Exa API.