First National Bank & Trust Co. v. Gold
First National Bank & Trust Co. v. Gold
Opinion of the Court
Plaintiffs’ first contention is that since Emil C. Tecktonius and Bridget A. Tecktonius were joint tenants of the four parcels of real estate here involved, the latter took by survivorship and these parcels were never a part of the estate of Emil C. Tecktonius. The validity of this contention will be assumed without any detailed consideration of its soundness. For the purposes of this appeal it will be assumed that the title to the four parcels in ques-' tion was in Bridget A. Tecktonius up to the time of the quitclaim deed by her to the defendant corporation. This contention is also made the basis for a further claim that this real estate, being no part of the estate pf Emil C. Tecktonius, the corporation had no authority in law to administer thereon. This contention is immaterial. The question is whether the corporation had capacity to take title, and it is clear that any corporation organized under ch. 180 has the power to take and own property and to sell or dispose of the same. Sec. 182.01, Stats.
An elaborate argument is made to the effect that the complaint sufficiently shows a dealing between testamentary trustees and a cestui; that the transfer by a cestui -to.a trustee without consideration is fraudulent and void, at Jeast in the absence of an affirmative showing by the trustee of the fairness of the transaction. Reliance is had upon Ludington v. Patton, 111 Wis. 208, 86 N. W. 571. In that case the testamentary trustees of plaintiff’s husband induced her to take
This case is here upon a demurrer. So far as the complaint discloses, these four parcels were riot a part of the res, if indeed there was a testamentary trust at all. This question we do not deem it necessary to determine. If there was such a trust, it was a trust in property other than these parcels, and Bridget was interested as cestui only in the subject-matter of that trust. The complaint thus discloses that a cestui conveyed to her trustees property wholly outside of and apart from the res held by them as trustees. This was not a deal-
We do not discuss, for the reason that it is unnecessary to a disposition of this case, the question whether, if plaintiffs’ initial contentions were sound, this deed would be void or merely voidable, nor do we find it necessary to consider the significance of the fact that it nowhere appears in the complaint that Bridget Tecktonius, during her lifetime, ever attempted to rescind the conveyance or avoid the transaction.
By the Court. — Orders affirmed.
Reference
- Full Case Name
- First National Bank & Trust Company of Racine and another v. Gold and others, Respondents Same v. Estate of Emil C. Tecktonius, (Inc.)
- Cited By
- 1 case
- Status
- Published