Cutler v. Ricamio
New Jersey Court of Chancery
Samuel Guerin, by will, gave $600 to his executor, the interest and profits thereof to be paid to his daughter, Eunice Brown, during her life, and at her death the principal to be paid to her four children.
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Samuel Guerin, by will, gave $600 to his executor, the interest and profits thereof to be paid to his daughter, Eunice Brown, during her life, and at her death the principal to be paid to her four children. Abraham Tappan, the executor of Guerin, paid the principal to the children, with which they purchased of Prudden a house and lot for $850. They agreed to pay $600 in cash, giving their bond and mortgage to Tappan for $625, as security for the fund, and gave Prudden a second mortgage for $250. The property was purchased to make a home for Mrs. Brown. She accepted it in lieu of the annuity.…
1Opinion of the Court
The Chancellor.
There is no controversy as to the order of priority of the mortgages, nor as to the material facts upon which the rights of the respective parties depend.
As between the executor of Tappan and Prudden, it is not denied that the complainant’s mortgage is entitled to priority. But it appears by the cross bill, which is taken as confessed, that the fund which that mortgage was given to secure, belongs to the estate of Samuel Guerin, deceased, of which Abraham Tappan was executor. That by the will of said Guerin, the interest and profits of the fund were bequeathed to his daughter,…
2Cases cited2 opinions
- Hallett v. ThompsonNew York Court of Chancery · 1836
- Williams v. ThornNew York Court of Chancery · 1845
3Cited by3 opinions
- Swetland v. SwetlandNew Jersey Court of Chancery · 1930
- Reiner v. Fidelity Union Trust Co.New Jersey Court of Chancery · 1939
- Sampson v. SampsonNew Jersey Court of Chancery · 1924