Grossman's Estate

Stearne, J.,

Decedent, owner of a business property, encumbered with four mortgages aggregating $50,000, leased it to a corporation for a term of 10 years. The lease was dated one year before the death of decedent. Under its terms lessor (decedent) agreed that all sums of money paid by the lessee on account of the above mortgages were “charged against the demised premises”. The lessee paid off the mortgages. The payments were made during the lifetime and after the death of decedent. Over six years after the death the trustees created new mortgages and repaid the lessees most of the foregoing…