Estate of Old

Citations

• 176 Pa. 150
• 34 A. 1022
• 1896 Pa. LEXIS 1054

Syllabus

<p>Trust and trustees — Negligence of trustee — Investment in junior securities on land.</p> <p>A trustee by leave of court invested funds which were held in trust for H. during his life with remainder to his wife and children, in a judgment which was a fourth lien on land. The loan was permitted to remain uncollected for nineteen years, during which time the interest on the trust loan and the prior liens was permitted to accumulate. The land was finally sold and bought in by the first judgment creditor. Most of the remainder-men had consented to the loan and the others on arriving of age had not dissented, though presumably acquainted with all the ciroumstances. The conditions disclosed a family arrangement. Held, under all the circumstances, that the court below committed no error in declining to surcharge the trustee for negligence.</p>