Mordecai v. Schirmer

Citations

• 38 S.C. 294
• 16 S.E. 889
• 1893 S.C. LEXIS 48

Syllabus

<p>1. Executor and Trustee — Power oe Sale. — The same person may be appointed executor and testamentary trustee by will. A testator devised bis residuary estate to his widow, “in trust to hold the same and to collect and receive the income and profits thereof, and to apply said income and profits to her own maintenance and support, and the support of our unmarried daughters; and I do hereby authorize my said wife, whom I nominate as executrix of this my last will, all or any part or parts of my said estate, to sell and convey, from time to time, and at such times, and as often as, and upon such terms as, she shall deem most expedient and advantageous, the proceeds of any such sale to be invested by her at her discretion in” certain designated securities. The wife renounced the ex-ecutorship, and after the payment of all the debts and legacies, and the surrender of the residhary estate to her, she contracted to sell a certain piece of real estate. Held, that the power of sale attached to the widow as trustee, and could be exercised by her after her renunciation of the office of executrix. Therefore, her deed would carry all the title of testator, and the purchaser was bound to accept it, and comply with his contract of purchase.</p> <p>2. Ibid. — Ibid.—A power to sell land, given to one who is both executor and trustee, for the payment of debts, or distribution, is to be deemed annexed to tile office of executor, and. will pass to the administrator with the. will annexed : but a power to sell for general purposes of investment will remain with the donee of the power as trustee.</p>