In re Kings's Estate
Appellate Division of the Supreme Court of the State of New York
Appeal from surrogate’s court, New York county. Proceedings in the matter of the appraisal of the property of Henry-W. King, deceased, under the transfer tax act'. From an order confirming the appraiser’s report, the executors appeal.
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Appeal from surrogate’s court, New York county. Proceedings in the matter of the appraisal of the property of Henry-W. King, deceased, under the transfer tax act'. From an order confirming the appraiser’s report, the executors appeal. The testator, a resident of the state of Illinois, was a member of the co-partnership firm doing business in the city of New York under the name of Browning, King & Co., and in the city of Chicago under the name of Henry W. King & Co., it being stipulated that the separate branches in New York' and Chicago constituted one firm for the purposes of this transfer…
1Opinion of the CourtO'Brien, J.
However desirous we may be to give a liberal 'construction in order to uphold a levy under the transfer tax act, we ¡think there is an insuperable objection to sustaining the tax fixed ■in this proceeding. Ordinarily, on the death of a member of a firm, ¡the legal title to the assets of the firm vests in the surviving members, and what is left-to the representatives of the deceased partner is the right to an accounting. Williams v. Whedon, 109 N. Y. 333, 16 N. E. 365, 4 Am. St. Rep. 460. Assuming, however, but not ■deciding, that the decedent had a property interest in the assets of .the firm…
2Cases cited3 opinions
- Williams v. . WhedonNew York Court of Appeals · 1888
- People Ex Rel. Hecker-Jones-Jewell Milling Co. v. BarkerNew York Court of Appeals · 1895
- People ex rel. Bijur v. BarkerAppellate Division of the Supreme Court of the State of New York · 1897
3Cited by1 opinion
- McDougald v. LowCalifornia Supreme Court · 1912