Reports of Cases Determined by the Supreme Court of the State of Missouri Volume 223

Reports of Cases Determined by the Supreme Court of the State of Missouri Volume 223

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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. 1910 edition. Excerpt: ...the farm lands." The law applicable to this state of facts is aptly stated by Mr. Perry in his excellent work on Trusts (5 Ed., vol. 1, sec. 298), as follows: "It may happen that although words of express trust are used in the grant or bequest of an estate to a trustee, yet no estate vests or remains in the trustee. This may be because only a power is given and no estate, as where a testator simply directs his executor to sell certain property and apply the proceeds to certain purposes instead of granting the property to the executor or trustee to sell, etc., or because the Statute of Uses executes the legal estate at once in the cestu-i que trust. Thus, if A. grants or bequeaths land to B. and his heirs, in trust for C. and his heirs, the trustee, B., will take nothing in the land, but the legal title, as well as the beneficial use, will vest immediately in C.; for the Statute of Uses, so called, executes the possession and the legal title in the same person to whom the beneficial interest is given. As stated in previous sections, a large part of the land in England was at one time held to uses. The legal title was in one person, but upon the trust and confidence that such person would apply it to the use of some person named, or that such legal owner would permit some other person to have the possession, use, and income of the estate. This system, originating partly in fraud of the law, and partly in the necessities and conveniences of the subject, became at last the source of great abuses. To remedy these abuses, the Statute of Uses was enacted. This statute executes the use by conveying the possession to the use, and transfer _ ring the use into possession, thereby making the cestui que use complete owner of the estate, as...
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Product details

  • Paperback | 284 pages
  • 189 x 246 x 15mm | 513g
  • United States
  • English
  • black & white illustrations
  • 1236756959
  • 9781236756954