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Articles 1 - 4 of 4
Full-Text Articles in Law
United States V. Osage Wind, Llc, Summer Carmack
United States V. Osage Wind, Llc, Summer Carmack
Public Land & Resources Law Review
The Osage Nation, as owner of the beneficial interest in its mineral estate, issues federally-approved leases to persons and entities who wish to conduct mineral development on its lands. After an energy-development company, Osage Wind, leased privately-owned surface lands within Tribal reservation boundaries and began to excavate minerals for purposes of constructing a wind farm, the United States brought suit on the Tribe’s behalf. In the ensuing litigation, the Osage Nation insisted that Osage Wind should have obtained a mineral lease from the Tribe before beginning its work. In its decision, the Tenth Circuit applied one of the Indian law …
The Offshore Asset Protection Trust: A Prudent Financial Planning Device Or The Last Refuge Of A Scoundrel?, Richard C. Ausness
The Offshore Asset Protection Trust: A Prudent Financial Planning Device Or The Last Refuge Of A Scoundrel?, Richard C. Ausness
Law Faculty Scholarly Articles
In recent years, a large number of Americans have established "asset protection trusts" in foreign countries. An asset protection trust is a self-settled spendthrift trust which is created in order to protect the settlor's property from the claims of creditors. Virtually all American jurisdictions recognize spendthrift trusts, which prohibit both voluntary and involuntary alienation of a third party beneficiary's interest in a trust; however, most do not allow a settlor who has retained a beneficial interest in a spendthrift trust to protect that interest from the claims of creditors. A growing number of present and former British possessions, however, have …
Wills-Assertion Of Rights Under Mortmain Statute As Violation Of No-Contest Clause, William K. Davenport
Wills-Assertion Of Rights Under Mortmain Statute As Violation Of No-Contest Clause, William K. Davenport
Michigan Law Review
An action was brought by an executor for construction of a will, made five months before testator's death, which attempted to make bequests to various charities. The bequests were "invalid" under the terms of the Ohio mortmain statute because the will was executed less than a year before death. A no-contest clause in the will declared that any person attacking it in any way would be barred from any beneficial interest, but there was no gift over in the event of such a contest. The charitable gifts were in the residuary clause, and there was no substitutionary gift in the …
Trusts - Right Of Trustee's Wife To Dower In Property Held Subject To Oral Trust - Effect Of Subsequent Memorandum - Dower Where Trustee Has Both Legal And Equitable Interest, Michigan Law Review
Trusts - Right Of Trustee's Wife To Dower In Property Held Subject To Oral Trust - Effect Of Subsequent Memorandum - Dower Where Trustee Has Both Legal And Equitable Interest, Michigan Law Review
Michigan Law Review
Pursuant to an oral agreement and upon consideration furnished by them, A, B, and C procured land to be conveyed to A by a third party. Six days later A executed a self declaration of trust in the terms of the oral agreement; that he would operate it, and within a specified period sell the property and divide the proceeds between himself, B and C, as beneficiaries. A suit to remove A as trustee culminated in a judicial sale of the property to B and C. In this proceeding by B and C to quiet title, A …