New's v. Bass, Brown & Co.

23 S.E. 747, 92 Va. 383, 1895 Va. LEXIS 128
CourtSupreme Court of Virginia
DecidedDecember 19, 1895
StatusPublished
Cited by15 cases

This text of 23 S.E. 747 (New's v. Bass, Brown & Co.) is published on Counsel Stack Legal Research, covering Supreme Court of Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
New's v. Bass, Brown & Co., 23 S.E. 747, 92 Va. 383, 1895 Va. LEXIS 128 (Va. 1895).

Opinion

Cardwell, J.,

delivered the opinion of the court.

The will of "W. W. New, deceased, duly probated in the Corporation Court of the city of Danville, at the December term, 1891, after providing for the payment of testator’s debts and funeral expenses, and giving his sister, Eloise H. New, a special legacy of $1,500, disposes of the residue of his estate as follows :

“ I give, bequeath, and devise all the rest and residue of my estate, and all the property, real, personal, and mixed, of which I shall die siesed or possessed, or which I shall be entitled to at the time of my decease, as follows, to-wit:

“ To my wife, Lucy, I give one-third, to be hers during her life, and at her death to be equally divided between my children. To my children, Fannie and Robert, I give the remaining two-thirds, to be held and managed for them by their faithful mother until the youngest shall have reached the age of twenty-one years; then to be equally divided between them, to be theirs, their heirs, forever.

“ In the event of the death of either of the children without issue, it is my will that the share of the child so dying be given to the survivor, and if both of my children die without issue, then I give and bequeath the share of both to my dear sister, Yerner New Mahon, for the use of her and her children.

“ I give the custody, tuition, and guardianship of the persons of such of my children as may be under the age of twenty-one years at the date of my death to my wife, during their respective minorities, and I do nominate and appoint my wife, Lucy G-. New, executrix of this, my last will and testament, and I request and direct that she be allowed to qualify without security.

“ It is my will that my executrix (if she think it wise) sell the property at the corner of Main and Ridge streets, also [386]*386■the house and lot on Patton street in the rear of Dr. W. L. Robinson, before either or both of the children attain their majority, at any time she may see fit, and invest the proceeds of the sale as she may deem best to carry out the provisions of this will.”

In July, 1892, appellees, Bass, Brown & Co., creditors of testator, filed their bill of complaint, on behalf of themselves and other creditors who might become parties to the suit on the usual terms, against Lucy G. New, as executrix of the last will and testament, an.d as widow, of said W. ~W. New, ■deceased; Eloise H. New, and Eannie New and Robert New (the last two only children of the testator, and both infants); the bill alleging that the personal estate of testator would be insufficient to pay his debts, and that his real estate would have to be subjected to their payment, &c.; and praying an account of debts due by the estate; an account of the real -estate of which the testator died seised, &c., and an account -of liens on the real estate, and their priorities, &c.

Upon this bill, taken for confessed as to the adult defendants, and the answers of the infants by their guardian ad .-litem, duly appointed, and of the guardian ad litem, duly filed, a decree was entered referring the cause to a'master commissioner, to take the accounts asked for by the bill, and directing the commissioner to report also . how much of the real -estate of the testator, if any, would have to be sold to pay his debts, and what lots or parcels of real estate could be most .advantageously sold for that purpose, so as to occasion as little -damage as possible to the estate.

The report of the commissioner made in response to this •decree and filed December 29, 1892, showed:

1st. That the debts outstanding against the testator’s estate amounted to $25,391.93, including interest computed to January 1, 1893, in which total of debts is included two debts [387]*387aggregating $9,160, secured by trust deeds upon tlie two pieces of property mentioned in the fifth clause of the testator’s will.

2d. That the total assessed value of the realty was $29,575.

3d. That the personal assets amounted in value to $48,-047.09, and were sufficient to pay all the debts.

4th. That in case the personal estate did not turn out as inventoried, and the real estate had to be resorted to, the lot on Patton street should be first sold, and, if this should be insufficient, then the Main-street lot (the dwelling).

The decree entered upon this report, and from which this appeal was allowed, in so far as it need be set out here, is as follows:

“ On consideration whereof, the court doth approve and confirm so. much of the said report as gives an account of the debts due by the estate of W. W. New, deceased, and doth adjudge, order, and deceee that said report be, and the same is hereby, recommitted to the said Bowen, to take a further account of the debts, and also to amend, correct, and modify the account of the personal assets of the estate of said New.

“And it is further ordered and decreed that Lucy G. New, the executrix of W. W. New, deceased, do settle her account as such executrix before the said Bowen, commissioner; and said Commissioner Bowen shall further take and state a full account of the standing of the assets and liabilities of the firm of W. P. Horner & Co., of which W. W. New, deceased, was a partner; and in this account said commissioner shall enquire and state who is to pay the debts of said firm; who is to collect and dispose of the assets of same; and what, if anything, W. P. Horner owes the estate of said New, and what, if anything, the said estate owes the said Horner. And said Bowen shall take and report all other accounts, facts, and statements, which any party to this suit may request to have reported, and which, in the opinion of said commissioner, will [388]*388be of service to the court in passing upon the matters and questions involved in this suit.

“And it appealing to the court 1that C. Morton Stewart, C. O. D. Lee, and Ed. Jenkins, trustees, have a lien by deed of trust for $5,000, with interest thereon from September 1, 1892, on the house and lot at the corner of Main and Ridge streets, Danville, Ya.; and that Ella P. Williams and T. O. Williams, Jr., executors of T. O. Williams, deceased, have á lien by deed of trust for $4,060, with interest as stated in said report, on lot of land and improvements thereon, situate at the corner of Union and Patton streets, Danville, Ya.; and that Ella P. Williams has a like lien on said last-named property for $603.60, with interest thereon as stated in said report—all of which appears in said report—on the motion of the aforesaid lien creditors, who, by and with their consent, are hereby made parties to this suit, and waive all service of process, or summons from the court, they, the said lien creditors under the deeds of trust aforesaid, are hereb}r permitted and authorized to have executed by their respective trustees the aforesaid deeds of trust, by sales made in accordance with the terms and provisions of said trust deeds, and apply the proceeds of such sales as the said trust deeds-in terms require.”

It is contended by appellant that it was error to decree that the[creditors, Stewart, Lee, and Jenkins, trustees, might sell the real estate at that time, and this constitutes her first assignment of error to the decree appealed from.

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Bluebook (online)
23 S.E. 747, 92 Va. 383, 1895 Va. LEXIS 128, Counsel Stack Legal Research, https://law.counselstack.com/opinion/news-v-bass-brown-co-va-1895.