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Articles 1 - 5 of 5
Full-Text Articles in Estates and Trusts
Future Interests - Rule Against Perpetuities - Recent Kentucky Legislation Pertaining To Administrative Contingencies, Jules M. Perlberg S.Ed.
Future Interests - Rule Against Perpetuities - Recent Kentucky Legislation Pertaining To Administrative Contingencies, Jules M. Perlberg S.Ed.
Michigan Law Review
A recent Kentucky amendment to its perpetuities statute follows the lead of Illinois in seeking a legislative solution to the problems inherent in applying the rule against perpetuities to administrative contingencies. The amendment provides, inter alia, that the vesting of any limitation of property "shall not be regarded as deferred for purposes of the rule against perpetuities or regarded as a suspension of the power of alienation of title to property merely because the limitation is made to the estate of a person, or to a personal representative, or to a trustee under a will, or to take effect on …
Trusts - Improved Real Estate - Validity Of Depreciation Reserves, Ross Kipka S.Ed.
Trusts - Improved Real Estate - Validity Of Depreciation Reserves, Ross Kipka S.Ed.
Michigan Law Review
Depreciation of physical assets is an accounting procedure now taken for granted in the business and tax areas of the law. Its emergence in the field of trusts has been relatively slow, however, and even today it has not gained much acceptance by the courts. It is the purpose of this comment to examine some of the reasons why the courts have been reluctant in applying the depreciation concept to trusts, and in particular to those trusts that include improved real estate among the assets of the corpus.
Restitution - Constructive Trust Relief For Breach Of Oral Contract To Create Trust In Land, Edward A. Manuel S.Ed.
Restitution - Constructive Trust Relief For Breach Of Oral Contract To Create Trust In Land, Edward A. Manuel S.Ed.
Michigan Law Review
Plaintiff mining company sued to impose a constructive trust on mineral interests purchased by the defendant employee in breach of his oral agreement with the company. The agreement included a promise to hold any property so acquired in trust for the employer at his election. Ruling that this agreement was unenforceable under the Oklahoma statute of frauds, the trial court relied on the defendant's status as an ordinary employee without duties relating to the acquisition of mineral interests or access to confidential information, and gave judgment for the defendant. On appeal, held, affirmed. Without proof of positive fraud or …
Foreign Personal Representatives, Banks Mcdowell Jr.
Foreign Personal Representatives, Banks Mcdowell Jr.
Michigan Legal Studies Series
In dealing with the legal rules affecting foreign personal representatives, the author of the present monograph is to be commended for the lucid analysis in the following pages of the principal questions that an executor or administrator appointed in one state will encounter in the administration of a single estate on a multi-jurisdictional basis: his right to sue and liability to suit in other states, the effects of his extra-legal action outside the state of his appointment, and the possibilities of reforming existing laws so as to make feasible a system of single administration of decedents' estates. This analysis is …
Trusts - Jurisdiction - Trustee And Trust Assets Outside Jurisdiction Of Forum, Richard J. Riordan
Trusts - Jurisdiction - Trustee And Trust Assets Outside Jurisdiction Of Forum, Richard J. Riordan
Michigan Law Review
The purpose of this comment is to examine these rationales and determine their validity--first as to testamentary trusts and then as to inter vivos trusts.