Maryland National Bank v. Merson

Following a trustee’s sale of 2,000 preferred shares in the-Baltimore Brick Company which comprised part of the trust corpus, three separate suits were filed in the Circuit Court for Baltimore City. These were consolidated for trial, and it is from the decree of the Circuit Court ordering part of the proceeds from the sale to be paid the life tenants that the trustee and remaindermen have appealed. The appeal raises important issues of proper trust management and the relative duties owed, by a trustee to the life tenant and the remainderman.

Frank Novak, by deed of trust (inter vivos) dated…