In Re the Appraisal, Under the Transfer Tax Act, of the Estate of Vanderbilt
New York Court of Appeals
Appeal from an order of the Appellate Division of the Supreme Court in the first judicial department, entered May 12, 1902, which affirmed an order of the Mew York County Surrogate’s Court assessing a transfer tax upon the estate of Cornelius Vanderbilt, deceased. The facts, so far as material, are stated in the opinion. The surrogate erred in refusing and neglecting to tax the transfers of remainders made by the 17th clause of the will of Cornelius Vanderbilt.
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Appeal from an order of the Appellate Division of the Supreme Court in the first judicial department, entered May 12, 1902, which affirmed an order of the Mew York County Surrogate’s Court assessing a transfer tax upon the estate of Cornelius Vanderbilt, deceased. The facts, so far as material, are stated in the opinion. The surrogate erred in refusing and neglecting to tax the transfers of remainders made by the 17th clause of the will of Cornelius Vanderbilt. (Matter of Sherman, 153 N. Y. 4 ; Knowlton v. Moore, 178 U. S. 55 ; Matter of Knoedler, 140 N. Y. 380; Murdock v. Ward, 178 U. S.…
1Opinion of the Court
Prior to an amendment of 1899 the Transfer Tax Law (L. 1896, ch. 908, section 230, as amended L. 1897, ch. 284), provided that "Estates in expectancy which are contingent or defeasible shall be appraised at their full, undiminished value when the persons entitled thereto shall come into the beneficial enjoyment or possession thereof * * *." Under this statute it has repeatedly been held that future contingent estates were not taxable until they vested in possession and the beneficial owner could be ascertained. The question now presented is as to whether this statute has been changed. The…
2Cases cited3 opinions
- Manice v. . ManiceNew York Court of Appeals · 1871
- Warner v. . DurantNew York Court of Appeals · 1879
- Campbell v. . StokesNew York Court of Appeals · 1894
3Cited by75 opinions
- In Re the Appraisal, Under the Transfer Tax Act, of the Estate of LansingNew York Court of Appeals · 1905
- In Re the Transfer Tax Upon the Estate of KeeneyNew York Court of Appeals · 1909
- Salomon v. State Tax Comm'n of NYSupreme Court of the United States · 1929
- In Re the Estate of VanderbiltNew York Court of Appeals · 1939
- In Re the Transfer Tax Upon the Estate of ZborowskiNew York Court of Appeals · 1914
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