68 Md. 423 | Md. | 1888
after stating'the case, delivered the opinion of the Court.
A careful consideration of the testimony convinces us that the deed in question was executed for the purpose of defrauding the creditors of Jesse H. Haugh, one of the grantors; and that the grantee participated in the fraudulent scheme. It would answer no good end to discuss the details of this transaction. But it is necessary for us to. state the reasons for the opinion which we hold on another question in the case. By the Act of 1880, chap. 172, sec. .2, it was provided that when the bond of the preliminary trustee of an insolvent debtor was- approved, all the insolvent’s property (with the exceptions mentioned in the first section) should vest in him ; and precisely the same provision was made in reference to the permanent trustee when his bond was filed and approved. The devolution of title was to take place from the preliminary to the permanent trustee without the slightest change in any respect, as soon as the bond of the permanent trustee was filed and approved. 'In the present case as the bond of the permanent trustee was.never approved, the title to the insolvent’s
In our opinion the decree of the Circuit Court was in all ■respects correct. We think that the title to the property, on the vacation of the deed, vests in the preliminary trustee; and that it will devolve on the permanent trustee when he files an approved bond.
Decree affirmed, with costs in both Courts.