Legal Opinion
In re the Accounting of Ottmann
New York Surrogate's Court
Decided December 30, 1949PublishedCited by 7 opinions
1Opinion of the Court
Collins, S.
In this accounting proceeding there is presented the question whether under a proper construction of decedent’s will and the applicable rules of law the testamentary trustees are required to make reservations from the trust income to offset depreciation of the improvements on real properties held in the trust. The prevailing view in this State is that a trustee is not permitted to charge depreciation of a building, a vessel or like income-producing property against the trust income in the absence of either an express direction in the trust instrument or other manifestation of the…
2Cases cited9 opinions
- In re the Estate of AdlerNew York Surrogate's Court · 1937
- Smith v. KeteltasAppellate Division of the Supreme Court of the State of New York · 1901
- In re the Judicial Settlement of the Account of ChapmanNew York Surrogate's Court · 1900
- Matter of Fifth Madison Corp. (New York Tel. Co.)New York Court of Appeals · 1948
- In re ChapmanAppellate Division of the Supreme Court of the State of New York · 1901
4 more not listed; retrieve them via the Exa API.
3Cited by7 opinions
- In re the Estate of DaviesNew York Surrogate's Court · 1950
- In re the Estate of SchnurNew York Surrogate's Court · 1963
- In re the Accounting of MorseNew York Surrogate's Court · 1950
- In re the Estates of DavisNew York Surrogate's Court · 1967
- In re the Estate of SiegelAppellate Division of the Supreme Court of the State of New York · 1968
2 more not listed; retrieve them via the Exa API.