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The Real Estate Investment Trust: State Tax, Tort, And Contract Liabilities Of The Trust, Trustee, And Shareholder, Michigan Law Review
The Real Estate Investment Trust: State Tax, Tort, And Contract Liabilities Of The Trust, Trustee, And Shareholder, Michigan Law Review
Michigan Law Review
This Comment will attempt to alert potential investors in and trustees of REITs to the full extent of the liabilities that they could suffer for contract debts incurred in the name of the trust and torts committed by trust personnel. Since state tax considerations also play a significant role in investment decisions, the manner in which each state taxes the REIT and its shareholders on income derived from property and business in that state will also be investigated. Finally, a rational path out of the morass created by current state law will be articulated in order to prompt renewed discussion …
Bankruptcy Proceedings For Insolvent Decedents' Estates, Richard V. Wellman
Bankruptcy Proceedings For Insolvent Decedents' Estates, Richard V. Wellman
University of Michigan Journal of Law Reform
Under present law, bankruptcy proceedings cannot be instituted by or against insolvent decedents' estates. Creditors of insolvent decedents must look to state probate laws for satisfaction. But these laws are more concerned with the control of solvent estates than with the affairs of the impecunious. Also, transfers of wealth at death by nonprobate means are coming to be the rule rather than the exception, and it is frequently very difficult for creditors of decedents to obtain satisfaction of unsecured claims from nonprobate assets. This article advocates the extension of bankruptcy laws to insolvent decedents' estates and explores problems and solutions …
The Impact Of The Uniform Probate Code On Court Structure, Ralph P. Dupont
The Impact Of The Uniform Probate Code On Court Structure, Ralph P. Dupont
University of Michigan Journal of Law Reform
After considering the present pattern of probate court structure in the United States, this article considers the need for probate court reform as reflected in the deficiencies of the present system. It further indicates that a realistic choice of court structure by legislatures will ultimately be made from among three options: (1) to enlarge the jurisdiction of the present probate court of the state more nearly to approximate the form currently obtaining in several states; (2) to appoint a new body of probate judges and thus create an entirely new court; and (3) to enlarge the jurisdiction of the present …