In re Drenkle's Estate
Supreme Court of Pennsylvania
From the Orphans’ Court of Columbia county. My 23. Peter Drenkle, by written articles, agreed to sell a tract of land to K. & J. Drenkle, for $3000, payable in annual instalments of $500, “ and to make, execute, and deliver a good and sufficient deed of conveyance for the same,” possession to be delivered on 1st April, 1836. The purchasers, also, acknowledged satisfaction of the legacies due from their father’s estate, in consideration of this conveyance.
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From the Orphans’ Court of Columbia county. My 23. Peter Drenkle, by written articles, agreed to sell a tract of land to K. & J. Drenkle, for $3000, payable in annual instalments of $500, “ and to make, execute, and deliver a good and sufficient deed of conveyance for the same,” possession to be delivered on 1st April, 1836. The purchasers, also, acknowledged satisfaction of the legacies due from their father’s estate, in consideration of this conveyance. In March, 1836, Peter died; and K. & J. Drenkle, the purchasers, shortly afterwards filed a petition in the Orphans’ Court, to have…
1Per curiam
This is a plain case of equitable conversion. By the execution of the articles, the vendor became a trustee of the title, and the vendee became a trustee of the purchase money, so that the beneficial ownership of each was transmuted. This elementary principle is sufficient for the determination of every case of the sort. Had the contract not been executed, the trusts would not have taken effect, and the interests under them being inchoate, would not have been perfected; but the conversion which was consummated by the conveyance executed by the administrators, related back to the date of the…
2Cited by5 opinions
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