Phillips's Estate

Citations

• 205 Pa. 511
• 55 A. 212

Syllabus

<p>Legacy — Sale of legacy — Remainder.</p> <p>A person, sui juris, owning a remainder iu land or in personal property, may sell the same for such sum as may be agreed upon between himself and the purchaser, provided the former does not stand towards him iu a trust relation, and, in making the purchase, acts in good faith.</p> <p>Where an owner of a vested interest iu remainder being iu financial distress sells and assigns absolutely the interest worth $32,500 for the sum of $8,750 actual cash paid to him, and the life tenant dies ten years thereafter, the purchaser is entitled to the full amount of the interest, in the absence of any fraud or concealment, or any relation of trust or confidence between the legatee and the purchaser.</p>