Estates and Trusts Commons^™

The Non-General Power Of Appointment -- A Creature Of The Powers Of Appointment Act Of 1951, Allan Mccoid

Vanderbilt Law Review

In the course of the past fifty years, during which estate planning has become a specialty rather than one of many jobs handled by the general practitioner, the power of appointment has become an increasingly popular form of gift. The two great advantages which have been claimed for the power are the introduction of great flexibility into the estate plan and the reduction of the tax burden on the property as it passes from one generation to another. It was presumably with both of these objectives in mind that Professor William J. Bowe made a suggestion last year as to …

Wills - Enforcement Of Parol Contract To Devise Real Property, John S. Slavens S.Ed.

Michigan Law Review

Plaintiffs and decedent made an oral agreement whereby plaintiffs agreed to pay decedent a yearly sum and to make repairs on certain real estate in return for which decedent agreed to devise the real estate to plaintiffs. Plaintiffs had been in possession of the property for several years and had vastly improved its value when decedent died, devising the property to third parties. Plaintiffs brought this action for specific performance against the devisees. The trial court, satisfied that the oral contract had been established, entered the decree for specific performance. On appeal, held, affirmed. A person can make a …

Is The Rule Against Perpetuities Doomed?, Lewis M. Simes

Michigan Law Review

Few rules of the common law have shown such amazing vitality as the rule against perpetuities. Emerging in the Duke of Norfolk's Case in 1682, as a rule to restrict unbarrable entails in land, it is now applied, not only to interests in land, legal and equitable, but also to personal estate, tangible and intangible, including beneficial interests in trusts. It is regarded as a part of the common law of nearly every English speaking country, except a few of the United States where statutory substitutes have been provided. Since 1930, statutory substitutes have been abolished and there has been …

Advancements: Ii, Harold I. Elbert

Michigan Law Review

A voluntary inter vivos transfer by a parent to a child is not an advancement so long as the transferor lives. The purpose of the doctrine is to equalize an intestate' s property among his children. It is auxiliary to the distribution of his estate that the question of advancement is raised. The death of the transferor is not enough to give rise to the doctrine. The person seeking to charge the intestate's heirs with an advancement must prove several additional facts. The legislation of each state determines what must be proved in order to charge the transferee with an …

Securities - Application Of Antideficiency Judgment Statute To Second Purchase Money Trust Deed Where Security Is Exhausted By Foreclosure Of First Deed, John Houck S.Ed.

Michigan Law Review

To secure the purchase price of land, defendant executed a promissory note and first deed of trust in favor of a savings and loan association, and a second note and deed in favor of plaintiff-vendor. On default of both obligations, the savings and loan association foreclosed upon the land. The resulting sale completely exhausted the security, and plaintiff brought the present action upon his note. Defendant interposed section 580b of the California Code of Civil Procedure, which specifies that "no deficiency judgment shall lie in any event after any sale of real property for failure of the purchaser to complete …

Advantages And Limitations Of A Power Of Consumption In Testamentary Transfers Of Property

Indiana Law Journal

No abstract provided.

Book Reviews, Harold W. Holt (Reviewer), Harold G. Wren (Reviewer), Walter Chandler (Reviewer), Harold W. Hannah (Reviewer)

Vanderbilt Law Review

Marital Property in Conflict of Laws By Harold Marsh, Jr. Seattle: University of Washington Press, 1952. Pp.

reviewer: Harold Wright Holt

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Life Insurance and Estate Tax Planning By William J. Bowe Nashville: Vanderbilt University Press, November 1952 Revision. Pp. 109.$2.10

reviewer: Harold G. Wren

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Caruthers' History of a Lawsuit Seventh Edition by Sam Gilreath Cincinnati: The W. H. Anderson Company, 1951. Pp. 1088. $17.50.

reviewer: Walter Chandler

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Legal Status of the Tenant Farmer in the Southeast By Charles S.Mangum Chapel Hill: University of North Carolina Press, 1952.Pp. viii, 478, $7.50.

reviewer: Harold W. Hannah

Retroactive Legislation Affecting Interests In Land, John Scurlock

Michigan Legal Studies Series

Professor Scurlock's monograph covers an area of the law which is commonly by-passed in treatises and in classroom instruction. If we could merely tear Maitland's "seamless web" of the law and retain all the shreds, no part of the legal system would escape us. What we actually do, however, is to set up, in a more or less arbitrary fashion, numerous centers of legal classification, such as contracts, torts, property and constitutional law, to which closely related legal materials are attracted as to a magnet. But those legal materials which stand midway between two centers of attraction are likely to …

Kentucky Decisions On Future Interests (1938-1953), W. Lewis Roberts

Kentucky Law Journal

No abstract provided.