91 N.J. Eq. 67 | N.J. | 1919
The opinion of the court was delivered by
The bill in this case was filed by the complainants as trustees under the will of the late Adolphus Keppelmann for the purpose
The first question- argued before us is whether property held by a trustee under a will for the benefit of an alien enemy comes within the purview of the “Trading with the Enemy act;” the argument made on behalf of Messrs. Schulz & Euckgaber being that it is only property the legal title to- which is in the alien enemy that is subject to seizure by the alien property custodian. But this contention, as it seems to us> is in the face of the very language of the statute. The provision of section 7 (c) of the act is as follows:
“If the President shall, so require any money or other property owing or belonging to, or held for or on account of, or on behalf of, or for the benefit of an enemy, or ally of an enemy, * * * shall be conveyed, transferred, assigned, delivered or paid over to the alien property custodian
and the order necessary for the carrying into effect of this enactment was duly made by the President. The manifest jipóse of congress was that the statute should operate not only upon propertj’, the legal title to which is in the alien, hut on all property held for him, or for his benefit, whether the legal title be in him or in the person who holds it for his benefit. In the present case, th'e property is held in trust by the complainants- solely'for the benefit of these three daughters of the testator, and comes within the very words of the statute, for, although they are not the holders of the legal title to the trust estate, they are- the equitable owners thereof, the whole beneficial interest being lodged in them.
Reaching the conclusion that these trust estates are within the purview of the federal statute, we are called upon to consider the soundness of the claim made on behalf of Messrs. Schulz &
The only other question discussed at the argument is whether the complainants are under a legal obligation to deliver over these shares in the testator’s estate to the alien property custodian, unless and until he has executed and delivered to them a proper refunding bond in accordance with the requirements of our statute concerning legacies. Comp. Stat. p. 3089 § 5.
So, too, every state law that imposes limitations upon the scope of the federal legislation must give way to it, provided that such an intent is to be gathered from the enactment. In the present case, such intent is apparent, for congress has declared, in section 7 (c) of the “Trading with the Enemy act,”, that any payment, conveyance, transfer, assignment or delivery of money or property to the alien property custodian hereunder shall be a full acquittance and discharge for all purposes of the obligation of the person making the same to the extent of the same.
We hold, therefore, that it is the duty of these complainants to deliver up to the alien property custodian the property which they hold for the benefit of these three alien enemies; and that they are not entitled, as against him, to receive as a condition precedent to such delivery a refunding bond such as is required by our Legacy act.
The decree under review will be reversed.
For affirmance — None.
For■ reversal — The Chief-Justice, Swayze, Trenchard, Bergen, Minturn, Kalisch, Black, White, Heppeni-ieimer, Williams, Taylor, Gardner, Ackerson — 13.