Massachusetts Reports Volume 210

Massachusetts Reports Volume 210

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1912 edition. Excerpt: ...testator's primary purpose was to provide for the payment of specific debts outstanding at his death so that his children and grandchildren might come into possession of unincumbered estates. But the further provisions in the eighth and ninth clauses cannot be disregarded. By the eighth clause while the replacement of buildings which might be destroyed by fire or other casualty, and their preservation by suitable repairs from depreciation and decay may be treated as matters of necessary administration, the general authority empowering the trustees to erect in their discretion new buildings, and the placing of new mortgages to defray the expense, and by the ninth clause, that they may substitute new mortgages for a like amount to those in force at his death if the mortgagees demand payment, far exceed a direction to trustees to apply income in payment of designated mortgagees until their debts are extinguished. The trustees could reconstruct, improve and enlarge the buildings, and erect new buildings and mortgage the trust estate to pay for the outlay. The term, therefore, would end, and a conveyance under the tenth clause of the will could be made only when the mortgage debts thus created had been satisfied. It doubtless was the testator's intention, when the entire will is considered, to provide only for his chil dren and grandchildren. But if the devise of vested estates, and the language of the fifteenth clause, indicate that the testator intended that the devisees ultimately should come into possession with the power of absolute disposition, yet the prescribed period of redemption as expressed does not exclude the contingency that none of them might survive its termination. Whatever might have been accomplished by the...show more

Product details

  • Paperback | 304 pages
  • 189 x 246 x 16mm | 544g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236786351
  • 9781236786357