In re Wolff

Citations

• 165 F. 984
• 1908 U.S. Dist. LEXIS 192

Syllabus

<p>Bankruptcy (§ 143*) — Property Passing to Trustee — Like Insurance Policy.</p> <p>A bankrupt held a life insurance policy payable to his wife if living at the time of his death, and, if not, to his legal representatives, but subject to his right to change the beneficiary at any time, and also, if living at the time of the payment of the last premium to himself receive a cash payment or other settlements specified. The policy had a cash surrender value, and had been pledged by both husband and wife for a loan, and the later premiums had been paid by the wife. Held, that under Bankr. Act July 1, 1898, c. 541, § 70a, 30 Stat. 505 (U. S. Comp. St. 1901, p. 3451;, the bankrupt or his wife was entitled to retain the policy on payment to his trustee of its surrender value at (he time the bankrupt ceased paying the premiums, less the amount of the loan for which it was pledged.</p> <p>[Ed. Note. — For other cases, see Bankruptcy, Cent. Dig. § 201; Dee. Dig. § 143.*]</p>