Brennan's Estate

Citations

• 215 Pa. 272
• 64 A. 537
• 1906 Pa. LEXIS 779

Syllabus

<p>Trusts and trustees — Compensation—Real estate — Sale of real estate — Commissions.</p> <p>Where testamentary trustees have received their regular commissions, on the sale of real estate they are not entitled to an additional compensation based on the increase in value of the real estate above its assessment at the death of the testator, where this increase was only a reflex of the natural growth of city values.</p> <p>Where trustees sell real estate free of encumbrances, and actually receive the amount of a mortgage, and immediately pay it over and satisfy the mortgage of record, they are entitled to commissions on the money thus passing through their hands.</p> <p>■ Counsel for a trustee is not entitled to receive a commission for effecting a sale of real estate, where no proofs are submitted that he contracted to act as agent, and his statement that he produced a purchaser is contradicted by one of the parties.</p> <p>Where trustees take an assignment of a mortgage paying interest at the rate of five per cent and neglect to record the assignmeiit for three years, and there is no legal proof of any reduction in the rate of interest, the trustees will not be permitted to say that the investment was only at the rate of four and four-tenths per cent.</p> <p>Where counsel to trustees examines and supervises twelve annual accounts, and does other work, such as giving advice for investments, in the preparation of leases, and in the sale of real estate, an allowance of merely $200 for preparing the account and attending the audit, will be increased to a fee of $350 covering all services.</p>