City of Memphis v. Union Planters Nat. Bank & Trust Co.

208 S.W.2d 758, 30 Tenn. App. 554, 1947 Tenn. App. LEXIS 110
CourtCourt of Appeals of Tennessee
DecidedSeptember 12, 1947
StatusPublished
Cited by4 cases

This text of 208 S.W.2d 758 (City of Memphis v. Union Planters Nat. Bank & Trust Co.) is published on Counsel Stack Legal Research, covering Court of Appeals of Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
City of Memphis v. Union Planters Nat. Bank & Trust Co., 208 S.W.2d 758, 30 Tenn. App. 554, 1947 Tenn. App. LEXIS 110 (Tenn. Ct. App. 1947).

Opinion

BAPTIST, J.

The suit was instituted in the Chancery Court of Shelby County, Tennessee, by the City of Memphis Tennessee, for the purpose of having adjudicated, under the Declaratory Judgments Act, its rights and status under the will of Alba C. Lake, deceased, and seeking a construction of the will, as to the complainant’s rights and obligations thereunder.

The will in question was executed by the said Alba C. Lake, a resident of Memphis, Tennessee, on August 5, 1918. Mr. Lake died on June 27, 1922.

After probate of the will and administration of the estate, the assets came into the custody of the Union Planters National Bank & Trust Company as trustee, and these assets now held by the trustee amount to approximately $280,000.

The opening paragraph of the will provides: •

“In the event of my death I wish my estate to be held intact, During their lifetime the entire net income therefrom is to be divided equally among the following-five legatees, viz: Lorenzo S. Lake, Mary A. Lake, Byron G. Lake and Louise Lake Bradford and Ernest B. Lake, as each dies his or her share is to be divided equally among the still living. So that the last one living-will get the entire income after all the rest are dead. If Lorenzo S. Lake should die before his wife, Irene Kibbe Lake she is to receive monthly one half of what he received monthly while living- as long- as she lives provided she remains unmarried. The remaining- half going to my heretofore named legatees as also her one half if she should die or forfeit it before they all die, when *557 they are all dead the following if still alive or in existence shall each receive, paid into their own hands, and not to be their property until so paid so as not to be subject to any debts they may owe the amount bequeathed to each of them. ’ ’

There then follow bequests in different amounts to twenty named or described individuals and eight named or described institutions.

It is provided that if there is more than enough to pay the bequests the remainder of the testator’s estate up to $100,000 is to go to the Second Presbyterian Church of Memphis, charged with the payment out of the income from same the provision for Mrs. Irene Kibbe Lake.

It is provided that if any of the first named five legatees above mentioned should die leaving child or children born or to be born, such child or children is to be paid $100 per month each as long as it or they may live.

The residuary clause of the will, which is in question here, is as follows:

“If there is over this $100,000.00 (One Hundred Thousand Dollars), the remainder must be applied by the City of Memphis Tenn. to the purchase of the Vance Woods of 150 acres more or less, belonging to the New South Memphis Land Co. which are to be a public city park forever under the name of Lake-Woods. And if Elm-wood should ever cease to be a cemetery I wish the Lake Monument and graves now in the Lake lot on Chapel Hill removed to said Lake Woods. Should this purchase not be made and paid for within three years from the date of the death of the last one of my first five above mentioned legatees then the money shall go to the above mentioned Second Presbyterian Church, out of which must be paid off any trust deed or mortgage that may be in *558 existence at tlie time of my death on the above mentioned Home of the Incurables. If the city of Memphis should buy and pay for the Vance Woods within the three years and there should be any money remaining this remainder may be used in building an Auditorium or towards paying off the balance due for any Auditorium that may have been built.”

A codicil provides that: “If the money is not needed, for an Auditorium it may be used in improving the park. ’ ’

Three of the first named five legatees, Lorenzo S. Lake, Byron Lake and Mary A. Lake, are now dead, leaving no children.

Ernest B. Lake, about 63 years of age, and Louise Lake Bradford about 61 years of age are still living, both without children.

Other than the five first named legatees, more than half of the individuals to whom bequests were made are dead and one of the institutions is nonexistent.

The original bill alleges that the tract of land referred to in the will as “Vance Woods” originally comprised about 171 acres, but that at the time the will- of the said Alba C. Lake was executed, Florida Street had intersected same, cutting off approximately 20.79 acres of same located west of Florida Street and leaving approximately 150 acres in the main wooded tract; that the original tract is now tri-sected by Florida Street in the western part thereof and U. S. Highway 61 in the eastern part thereof, leaving a tract of approximately 20.79 acres west of Florida Street,' a tract of 31.21 acres east of Highway 61 and a tract of 119.89 acres between Florida Street and Highway 61.

That as a result of the tri-secting of said land, it may not be feasible or desirable ever to use the 20.79 acres *559 west of Florida Street, or the 31.21 acres east of Highway 61 for park purposes, because of the difficulty and probable impossibility of making either of said tracts integral parts of a park, consisting of the large tract between the said two streets or highway consisting of 119.89 acres.

It is alleged that the proper construction of the residuary clause of the will is that the complainant, City of Memphis, may lawfully comply with the provisions of the will and entitle itself to said residuum of said estate by purchasing only the tract lying between Florida Street and Highway 61, or such part of said original tract as it may deem in its discretion to be suitable or desirable for park purposes.

The trustee, Union Planters National Bank & Trust Company, in answer joins issue on the last above proposition and asserts that the testamentary intention was that the area to be acquired in said Vance Woods for conversion into a park would contain 150 acres more or less.

The trustee also filed a cross-bill, to which it made defendants, The City of Memphis and the numerous individuals and institutions who might have any interests or rights under the terms of the will. The purpose of the cross-bill was to have an interpretation and construction of the entire will as-to the interests and rights of all the parties who might have such interests and rights thereunder.

The decree of the Chancellor adjudicates the rights and interests of all the parties except as to the provision of the will for the payment of $100 per month to any children which should be born to the first five named legatees. This question was pretermitted and the cause *560 retained in Court for a decision in case of tire future birth, of such child or children. From the decree there was no appeal by any of the parties except as hereinafter stated.

In construing the residuary clause in favor of the City of Memphis the decree provides:

“VIII.

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Cite This Page — Counsel Stack

Bluebook (online)
208 S.W.2d 758, 30 Tenn. App. 554, 1947 Tenn. App. LEXIS 110, Counsel Stack Legal Research, https://law.counselstack.com/opinion/city-of-memphis-v-union-planters-nat-bank-trust-co-tennctapp-1947.