Estate of Seitzinger

Citations

• 170 Pa. 531
• 32 A. 1101
• 1895 Pa. LEXIS 1431

Syllabus

<p>Dower — Interest on arrears of interest.</p> <p>Where a widow is entitled to annual interest in lieu of dower, she is entitled to have interest on arrears of interest from the time the same fall due.</p> <p>Trusts and trustees — Creditors—Statute of limitation.</p> <p>A testator may create an express active trust of his estate, real or peri sonal, which shall subject it to the claims of creditors beyond the statutory limitations. Where such a trust is created the debts do not lose their right on the trust estate short of the period which would raise the presumption of payment.</p> <p>Testator after devising his real estate to his executors in trust to sell or mortgage the same for the payment of debts and legacies, directed that until a certain date named none of the devisees would have a right to insist on the sale of the real estate, except at the discretion of the executors. I-Ie further directed as follows: “If with a just regard to the rights of creditors (which are of course to be first regarded) my executors should in their judgment and discretion conceive it more advantageous to the probable ultimate interest of my family that my residuary real estate or any part thereof should remain unsold I recommend that there be no sale of the same.” He then directed that after the debts were all paid, the executors should convey what remained by allotments to the legatees. Held, that the will contained not a mere power to sell, which unexecuted for five years vested the estate in the heirs, but that it created an actual trust resting on a legal title which vested the estate in the executors until the execution of the trust.</p>