Calvert v. Woods

Citations

• 246 Pa. 325
• 92 A. 301
• 1914 Pa. LEXIS 514

Syllabus

<p>Receivers — Receivers’ sales of real estate — Notice to creditors by mail — Sufficiency of notice — Application for leave to sell — Act of April 24,1918, P. L. 114 — Valid notice.</p> <p>1. The Act of April 24, 1913, P. L. 114, amending the Act of May 11, 1911, P. L. 261, which provides for -the sale of real estate by the receivers of corporations upon application to the court, after notice to creditors, makes valid private sales of real estate by receivers where notice of the intention of the receivers to apply for leave to sell at private sale is given to the creditors by mailing properly addressed notices. The failure, therefore, of the receiver of a corporation to give personal notice to creditors of his intention to present a petition to the court for leave to sell real estate at private sale does not affect the marketability of the title acquired by the purchaser where it appears that notice was given to the creditors by mailing postal cards, duly addressed, to the creditors.</p> <p>Trusts and trustees — Purchase by trustee of trust property— Valid purchase — Real property — Title to land — Marketable title— Case stated.</p> <p>2. While it is true as a general rule that if a trustee buys trust property, even at public sale, brought about or in any way controlled by the trustee such trustee will be presumed to buy and hold for the benefit of the trust, the rule does not apply where the trustee has no control over or is not instrumental in bringing about the sale. In such case, he may bid for, and become the purchaser of the property free from any trust upon his part. Lusk’s App., 108 Pa. 182, followed.</p> <p>3. On a case stated to determine the marketability of the title to real estate agreed by plaintiff to be sold to defendant, it appeared that a prior owner of tbe property had given a mortgage thereon; that a scire facias had been issued on the mortgage and that judgment had been entered for the mortgagee; that the mortgagor was subsequently adjudged a b