Mordecai v. Schirmer
Mordecai v. Schirmer
Opinion of the Court
The opinion of the court was delivered by
This was a case agreed upon in a controversy submitted without action. Isabel Mordecai, as trustee, under the will of Moses C. Mordecai, the plaintiff, brings her action for specific performance against Charles C. Schirmer and others, the defendants, for the enforcement of the contract of sale of certain property on East Bay street, Charleston, described in the record, sold by her at public auction in 1891, to the defendants for $6,425, upon the terms hereinafter stated. The defendants resist the claim, on the ground that the title to said real estate, tendered by the plaintiff, as trustee as aforesaid, is not good and marketable, for the reason that the said plaintiff, as such trustee, did not have, and does not now have, any power to make said sale and conveyance. The following are the facts upon which the controversy depends:
On December 10, 1891, the defendants above named purchased, at public auction, in the city of Charleston, from the plaintiff above named, for the price of $6,400, on the terms above set out, all that lot of land, with the three-story brick building thereon, on the southeast corner of East Bay street, &e. [Fully described in this agreed statement.] That the terms of said sale were as follows: The purchase money to be paid all cash, or one-third cash, and the balance in one and two years, secured by bond of the purchasers, bearing interest, payable half yearly, from the day of sale, and a mortgage of the premises; the building to be iusured, &e.
That-Moses 0. Mordecai departed this life on or about De
That the said Isabel Mordecai, plaintiff contends, pursuant to the power vested in her as a trustee under, the said will, offered for sale, at public outcry, and sold the said premises, for the price above named, upon the terms aforesaid, unto the defendants herein, and a memorandum, in writing, of said sale was made by the auctioneers at the time of said sale, &c. That on May 17, 1892, the plaintiff, as trustee aforesaid, tendered to the defendants a conveyance in fee of said premises, duly executed, requiring, on the part of said defendants, a compliance with the terms of sale. That the said defendants refused to comply with the terms of said sale, and declined to accept the title tendered, on the ground that no power of sale was vested in the plaintiff as trustee under the said will, and that, for this reason, the title tendered as aforesaid is not such a marketable title as they are bound to accept, although in all other respects formal and sufficient.
The questions submitted to the court upon this case are as follows: 1. Was the plaintiff, as trustee aforesaid, vested .under said will with the power to sell at public outcry and convey the said premises? 2. Was the title to the said premises, which was tendered by the said plaintiff to the said defendants as aforesaid, a good and marketable title, and such a title as the said defendants are bound to accept? If these questions are answered in the affirmative, then the court is to decree a specific performance of the said contract of sale, modified to this
The cause was heard by his honor, Judge Hudson, who held ‘ ‘that the court being satisfied that the power of sale given to his wife, plaintiff herein, by the testator, M. C. Mordecai, in the fourth paragraph of his will, was not attached to her office as executrix, but conferred upon her, as trustee of the residuary estate, for its sale and investment, as she, the said trustee, might, from time to time, deem wise, the first question submitted to the court is answered in the affirmative. The second question submitted to the court is answered in the affirmative. And it is ordered and adjudged, that the defendants do perform their contract of purchase, as set. out in the case submitted, modified to this extent only, that interest, is to run from March 1, 1892, and not from the day of sale,” &c.
From this decree for specific performance, the defendants appeal upon the following grounds: “First. Because the presiding judge erred in holding that the plaintiff, as trustee under the will of Moses C. Mordecai, was vested with power to sell at public outcry and convey the said premises. Second. Because the presiding judge erred in holding that the title tendered by the said defendants was a good and marketable one, and such as the said defendants are bound to accept,” &c.
It seems that there is no inherent defect in the title to this property, the only question being as to who has the right to sell and convey it. The property is a part of the residuary estate, given to the plaintiff for life, as follows: “In trust to hold the same, and to collect and receive the income and profits thereof, and to apply said income and profits to her own maintenance and support, and the support of our unmarried daughters; and I do hereby authorize my said wife, whom I nominate as executrix of this my last will, all or any part or parts of my said estate, to sell and convey from time to time, and at such times, and as often as, and upon such terms as, she shall deem most expedient and advantageous, the proceeds of any such sale to be invested by her at her discretion in stocks, &c., and
The judgment of this court is, that the judgment of the Circuit Court be affirmed.
Reference
- Full Case Name
- MORDECAI v. SCHIRMER
- Status
- Published
- Syllabus
- 1. Executor and Trustee — Power oe Sale. — The same person may be appointed executor and testamentary trustee by will. A testator devised bis residuary estate to his widow, “in trust to hold the same and to collect and receive the income and profits thereof, and to apply said income and profits to her own maintenance and support, and the support of our unmarried daughters; and I do hereby authorize my said wife, whom I nominate as executrix of this my last will, all or any part or parts of my said estate, to sell and convey, from time to time, and at such times, and as often as, and upon such terms as, she shall deem most expedient and advantageous, the proceeds of any such sale to be invested by her at her discretion in” certain designated securities. The wife renounced the ex-ecutorship, and after the payment of all the debts and legacies, and the surrender of the residhary estate to her, she contracted to sell a certain piece of real estate. Held, that the power of sale attached to the widow as trustee, and could be exercised by her after her renunciation of the office of executrix. Therefore, her deed would carry all the title of testator, and the purchaser was bound to accept it, and comply with his contract of purchase. 2. Ibid. — Ibid.—A power to sell land, given to one who is both executor and trustee, for the payment of debts, or distribution, is to be deemed annexed to tile office of executor, and. will pass to the administrator with the. will annexed : but a power to sell for general purposes of investment will remain with the donee of the power as trustee.