147 N.Y.S. 1058 | N.Y. App. Div. | 1914
On the 29th day of December, 1902, the plaintiff as party of the first part and the Van Norden Trust Company as party of the second part, executed an agreement in writing, under seal and duly acknowledged, whereby the plaintiff assigned and transferred to the trust company certain securities consisting of railroad bonds and certain capital stock of the aggregate par value of $21,000, upon trust to hold the securities and any securities into which they might be converted as a trust fund subject to trusts to pay the net income to the plaintiff, or to apply the same to her use, so long as she should live, and to
The learned counsel for the defendant does not contend that the trust is irrevocable for the reason that it cannot be determined until the death of the plaintiff who will be her next of kin; but he contends that the consent of the brother and sister of the plaintiff to the revocation of the trust is necessary, for the reason that if the trust were presently terminated by the death of the plaintiff they would be her next of kin and
It follows that plaintiff is entitled to judgment revoking the deed of trust and directing defendant to deliver to her the securities and the proceeds and accumulations thereof in its possession upon payment of its lawful commissions and expenses.
Ingraham, P. J., Clarke, Scott and Dowling, JJ., concurred.
Judgment ordered for plaintiff as indicated in opinion. Order to be settled on notice.