Dorman v. CENTRAL NAT'L BK. IN CHICAGO

The primary issue raised by this appeal is whether, under the documents comprising a land trust agreement, the defendant Joseph Pedott has as a matter of law retained a power of direction in the land trust. On January 2, 1962, Pedott established a land trust by trust agreement which named the defendant Central National Bank in Chicago as trustee and Pedott as beneficiary. The trust property is improved real estate located in Chicago, Illinois. A printed clause contained in the trust agreement provides that the trustee will convey title to the real estate only when authorized to do so by…