Elkin v. Rives
Elkin v. Rives
Opinion of the Court
delivered the opinion of the court.
In those cases in which a dry, naked trustee has been allowed attorneys fees for services, such as Lowries appeal, 1 Grant, Cas. 373, and Babcock v. Hubbard, 56 Gonn., 284, 15 Atl. 791, the professional services have usually been rendered in litigating cases or in conducting suits. In both the cases referred to, the trustee had been employed as attorney before he acted as trustee, and was a mere holder of legal title. In all the other cases that we have been able to find, trustees have been denied compensation for professional services. See Underwood & Hill on Trusts & Trustees, p. 317, note 1, and the authorities cited at the foot of p. 318. Ordinarily what takes place in execution of the power of sale by the trustee in pais would not require anything more than action by the trustee as such.
Reversed and remanded.
Reference
- Full Case Name
- Rufus R. Elkin v. Joseph E. Rives
- Cited By
- 4 cases
- Status
- Published
- Syllabus
- Deed of Tbust. Sale under. Trustee’s compensation. Attorney’s fees. If a deed of trust be enforced by the trustee making sale of the property, he is entitled to retain from the proceeds for his services only a reasonable compensation to himself as trustee, although the note evidencing the debt secured by the deed' stipulates for the payment of an attorney’s fee in case it be collected by an attorney and the trustee is an attorney and a member of a firm of attorneys to whom the payee intrusted the note for collection.