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Pital Charitable Uses

trust, trustee, title and lawrence

PITAL ; CHARITABLE USES.

If a trustee dies, or fails or refuses to execute or accept the trust, or no trustee is named, the trust does not for that reason fail. It is a settled rule that the court of chancery will provide a trustee or attend to the execution of the trust; 10 Sim. 256; Adams, Eq. 36.

Trusts are interpreted by the ordinary rules of law, unless the contrary is expressed in the language of the trust; Cudworth v. Thomp son, 3 Des. (S. C.) 256, 4 Am. Dec. 617.

The rules for the devolution of equitable estates are the same as those for the descent of legal titles, and fall under the operation of the various intestate acts; Bisph. Eq. 60.

The death of a co-trustee vests the title in the survivor; Webster v. Vandeventer, 72 Gray (Mass.) 428.

Apart from statute, on the death of a sole trustee, real estate passes to his heir, and per sonalty to his personal representatives, sub ject to the trust; Perry, Trusts 269 (citing [1891] 2 Ch. 567 ; State v. Trust Co., 209 Mo. 472, 108 S. W. 97; Lawrence v. Lawrence, 181 Ill. 248, 54 N. E. 918); the court will appoint a new trustee. The subject is usually regulat ed by statute. It is said that, if no new trus tee is appointed, the heir or persona] repre sentative may act as the case may be ; Perry, Trusts 269.

It is the duty of the executors of a deceas ed trustee to settle an account of the trust estate and to pay the funds over to a succes sor ; they are not bound to execute the trust; Silvers v. Canary, 114 Ind. 129, 16 N. E. 166.

Where a trust deed, upon the death of the trustee, vested the title in the court of chan cery as a successor in the trust, this was in operative, and the title vested in the heirs of the trustee charged with the execution of the trust; Lawrence v. Lawrence, 181 Ill. 248, 54 N. E. 918.

If the legal title to real estate cannot be taken by an alien, the beneficial ownership cannot be enjoyed by him; Taylor v. Benham, 5 How. (U. S.) 270, 12 L. Ed. 130.

An assignment in trust for the benefit of creditors is valid without assent on the part of the creditors; 25 Wash. L. Rep. 822; con tra, [18971 2 Q. B. 19; Widgery v. Haskell, 5 Mass. 144, 4 Am. Dec. 41. In [1897] 2 Q. B. 19, it was held that an assignment in trust for particular persons is irrevocable, while one for creditors in general is revocable. See