1 Barb. Ch. 18 | New York Court of Chancery | 1845
No one can read the deed in this case, in connection with the facts stated in the bill, without coming to the conclusion that it was the intention of Mr. Buel, the grantor, to convey the premises to L’Amoureux as the mere naked trustee for the heirs at law of J. Holmes, who were equitably entitled to them while in the hands of Buel. And if the deed had been executed, and this bill filed, previous to the revised statutes, it would have been a matter of course to decree a conveyance to the cestui que trusts, according to their respective equitable interests in the premises. The claim of the defendant to hold the premises for his own benefit, under this
But even if the persons intended to be beneficially interested in the deed are not so described as to transfer the legal title to them, under the forty-seventh section of the article of the revised statutes before referred to, still this defendant could take no beneficial or legal interest in the premises under that deed. For it is apparent from the deed itself that the property was intended to be conveyed to him as a trustee for others, and not for his own benefit. And by the forty-ninth section of the same article no estate whatever vests in the nominal grantee in such a case.
As the legal title to the lots in question is not in the defendant, the complainants are not entitled to a decree directing him to convey one undivided ninth thereof to them. The proper course therefore is to dismiss their bill, without 'costs, and without prejudice to their right, in any future litigation in relation to the premises in question, either at law or in equity.