Hebron v. Kelly

Citations

• 75 Miss. 74

Syllabus

<p>Chancbby Court. Trusts. Grantee, in absolute deed a trustee.</p> <p>A will devising certain lands to infant devisees charged the same with the payment of a legacy of $3,000 after a mortgage of $1,400 .thereon had been first paid, the aggregate of which sums was much less than the value of the land. The legatee was the intimate friend of the devisees and of their father, and attorney for the latter, who was executor of the estate. In pursuance of a parol agreement made with the devisees and their father, he acquired the ownership of the mortgage debt, and purchased the land at foreclosure sale for much less than its value. The terms of this agreement were that he should hold the title as security for the amount advanced by him in making the purchase, together with the amount of his legacy, in payment of which sums the devisees should deliver to him twenty bales of cotton annually, for a period of five years, which undertaking on their part the devisees fully performed. Held, that the legatee held the land in trust, and that the devisees were entitled to relief on their proceeding in equity against his heir and personal representative for a conveyance of the land and an accounting, etc. Robinson v. Leflore, 59 Miss., 148; Barton v. Magruder, 69 Miss., 463, cited.</p>