Smith v. Pratt

In support of her claim of complete ownership of the property, the defendant relies upon her record title and the failure of the decedent to exercise the power of disposal conferred upon her by the declaration of trust. The decedent’s creditor seeks to establish a resulting trust in favor of the estate by reason of the alleged payment of the purchase price for the premises by the note of the decedent given to the bank.

The declaration of trust contains no provision controlling disposition of the trust res upon the death of the principal beneficiary, Mrs. Knotts, without having exercised her…