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In Re the Estate of Ridings

79 N.E.2d 735, 297 N.Y. 417, 1948 N.Y. LEXIS 834
New York Court of Appeals·Decided April 23, 1948·Published·Cited by 8 cases

Opinion

Per Curiam.

The rule of undivided loyalty as applied to the retention by a corporate trustee of shares of its own stock is subject to the settlor’s instructions when such instructions are clearly related to shares previously owned by the settlor. In this case the testatrix expressly authorized the retention in the trust of any investments left by her.

The order of the Appellate Division and the Surrogate’s decree entered thereon should be affirmed, with costs to all parties appearing separately and filing briefs, payable out of the estate.

Loughban, Oh. J., Lewis, Conway, Desmond, Thaoheb, Dyb and Fuld, JJ., concur.

Order affirmed, etc.

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In Re the Estate of Ridings, 79 N.E.2d 735, 297 N.Y. 417, 1948 N.Y. LEXIS 834 (N.Y. 1948).

79 N.E.2d 735 (In Re the Estate of Ridings) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

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