160 N.Y.S. 1115 | N.Y. Sur. Ct. | 1916
The decedent died on the 11th of December, 1910, and at -the time of his death he had his domicile in this State. The order assessing a tax upon his estate was entered on December 24, 1915, and one of the executors has appealed from that order. The appeal brings up for consideration several questions. The first is whether the appraiser erred in refusing to deduct from the assets of the estate the sum of $75,000 paid by the executors in satisfaction of a bond and mortgage executed by the decedent. At the date of decedent’s death .he was the owner of a hotel situated at Dallas, Tex. He had borrowed the sum of $75,000 and had given his bond and a mortgage on the hotel as security for the indebtedness. His will contains the following provisions: “ I further devise and bequeath unto the-said R. L. Lucas all my interest in the Hotel Southland, of Dallas, Texas, free from all indebtedness, and I direct my executors named in said last will and testament to pay out of
Order modified and affirmed.