Milbank v. Crane
New York Supreme Court
Upon the death of a sole or surviving trustee of an express trust, the trust vests in the supreme court; and it is the duty of the court to appoint another person as trustee to complete its execution. The proper mode of appointment of the new trustee, it being necessarily summary and not by formal bill, is by application by petition under the statute.
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Upon the death of a sole or surviving trustee of an express trust, the trust vests in the supreme court; and it is the duty of the court to appoint another person as trustee to complete its execution. The proper mode of appointment of the new trustee, it being necessarily summary and not by formal bill, is by application by petition under the statute. The quasi jurisdiction in rem3 a power over the trust which the court has, is not acquired by the service of process upon the cestui que trust or other person interested in the trust fund or its preservation; and although it is undoubtedly…
1Opinion of the Court
Allen, Justice.
Upon the death of the trustee the trusts created by the will of Nathaniel W. Sanford de*194volved upon this court as the successor in jurisdiction to the court of chancery. The Revised Statutes abrogated the common law rule, and enacted that upon the death of the surviving trustee of an express trust the trust should not descend to his heirs or pass to his personal representatives, but should vest in the court of chancery (since transferred to this court) with all the powers and duties of the original trustee, and should be executed by some person appointed for that purpose, under…
2Cases cited1 opinion
- Hawley v. RossNew York Court of Chancery · 1838
3Cited by10 opinions
- Freeman v. PrendergastSupreme Court of Georgia · 1894
- Dyer v. LeachCalifornia Supreme Court · 1891
- In re LaingAppellate Division of the Supreme Court of the State of New York · 1901
- Powers v. PowersAppellate Division of the Supreme Court of the State of New York · 1919
- Brown's AccountingNew York Surrogate's Court · 1874
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