24 N.Y.S. 226 | N.Y. Sup. Ct. | 1893
In view of the correct statement of facts contained in the referee’s report, which formed the basis of the-surrogate’s action, it is not necessary to restate the same in this opinion.
We also concur in the conclusions arrived at by the referee that the children of John G. Collins took a vested remainder in the property situated in Eighty-Fourth street, devised to the widow of said John G. Collins for and during her natural life, and that the executor was not required to account as such for the $1,000 which had been provided by such children to pay the annuity of $50 to the widow of the testator, for the reasons stated in his opinion. But we do not concur in the referee’s conclusion that there are no assets of the estate of John G. Collins in the hands of William Collins as executor. The theory upon which the referee arrived at this conclusion is that the proceeds of the sale of the premises in Eighty-Fourth street, made under the circumstances stated by himr did not remain assets of the estate, but belonged to the persons in whom the fee was vested, and that the holding of the same .in the respondent as executor was done by virtue of an agreement between the grantors that he should do so, and not by virtue of any authority derived from the will. It will be seen upon an examination of the will that this property in Eighty-Fourth street was bequeathed to the widow of the.testator during her life, whether she married again or not; and there was also a provision that, in case she remained unmarried after his youngest child attained lawful age, his estate was to remain unsold during her widowhood, unless she and his children should think it best to sell the same, in which case they were authorized, with her concurrence, to sell the same,