Hughes v. Tabb

Citations

• 78 Va. 313
• 1884 Va. LEXIS 9

Syllabus

<p>1. Trusts-Defined-General-Application of purchase money.&emdash;The rule is that whenever the trust is of a defined and limited nature, the purchaser must himself see that the purchase money is applied to the proper discharge of the trust-; but, whenever the trust is general and of an uncertain nature, he need not see to it. Pattie v. Gardner, 12 Wheaton, 498.</p> <p>2. Idem-Idem-Discretion.-Even when the object of the trust is defined, but the purchase money is to be reinvested upon trusts requiring time and discretion, purchaser is not bound to see to the application thereof. If any shall suffer by trustee’s misconduct, it should be those who clothed him with the discretion.</p> <p>3. Idem-Sale and reinvestment.-then sale is made under power to sell and reinvest upon same trusts, it has been held that the purchaser is not bound to see to application of purchase money. And it is unreasonable that he should be so bound, if the form of the bequest implies confidence reposed in trustee as to applying the purchase money.</p> <p>4. Idem-Infant, or unborn c. q ts.&emdash;When the time has arrived for sale of real estate and the persons entitled to the money are infants, or unborn, the purchaser is not bound to see to the application of the purchase money. But otherwise, if the money is payable to an infant at his majority. In the latter case the person and the time are designated, and the trust is defined and limited.</p> <p>5.. Idem-Payments from year to year.&emdash;Where money is payable to persons yet unborn, and from year to year, to require purchaser to see, at his peril, that it is paid to the proper persons in esse, or to be born, and entitled during each one’s lifetime, and to continue such supervision until all are dead who are so entitled, would be to defeat the sale and the purposes of the will. Such obligations would practically convert a purchaser into a trustee, and that, too, without compensation-</p> <p>6. Trusts—Power of sale free of encumbrance—Case