Knapp v. Nissley

Citations

• 254 Pa. 379
• 98 A. 1051
• 1916 Pa. LEXIS 738

Syllabus

<p>Trusts and trustees — Testamentary trustee — Power of sale after death of life tenant — Bale before death of life tenant — Life tenant’s consent — Purchase by life tenant — Validity of sale — Estoppel.</p> <p>1. Powers must be strictly pursued and a power to be exercised upon a given event cannot be properly executed before the happening of that event; but where the power is complete, but its exercise is postponed for the benefit of a particular person, the consent of that person will be equivalent to the happening of the stipulated contingency. Consent in such case need not be shown by deed, but can be proven by the words or actions of the parties implying it.</p> <p>2. A testamentary power to sell real estate after the death of a life tenant can be exercised by a trustee before that event, if done with the former’s consent and for the purpose of ultimate-distribution of the testator’s estate.</p> <p>3. When in such case the life tenant himself purchases the property in question from the trustee, such sale will not be declared invalid in an action of assumpsit instituted more than twenty-three years thereafter by the administrator c. t. a. of the then deceased cestui que trust, to recover purchase-money from one who subsequently bought the premises at a public vendue duly ordered in a judicial proceeding, where such personal representative was duly authorized and directed to execute a deed and collect the fund, and there was no attack upon the sufficiency of the consideration paid by the life tenant at the time of the sale to him, and no allegation or proof of a fraudulent purpose to defeat or destroy the trust; and where it further appeared that immediately after acquirirfg the property the life tenant made extensive improvements; and that the purchase-money paid by him had been distributed after his death to those ultimately entitled.</p>