Robb's Estate

Philadelphia County Orphans' Court

Robb's Estate

26 Pa. D. & C. 376, 1936 Pa. Dist. & Cnty. Dec. LEXIS 336

CourtPennsylvania Orphans' Court, Philadelphia County

DecidedMay 1, 1936

Docketno. 649

StatusPublished

This text of 26 Pa. D. & C. 376 (Robb's Estate) is published on Counsel Stack Legal Research, covering Pennsylvania Orphans' Court, Philadelphia County primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Robb's Estate, 26 Pa. D. & C. 376, 1936 Pa. Dist. & Cnty. Dec. LEXIS 336 (Pa. Super. Ct. 1936).

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Opinion

Klein, J.,

We have studied carefully sections 4 and 5 of article V of the indenture of mortgage, and agree with the auditing judge that they fix the manner in which the corporate trustee must distribute the funds it derives from the management of the mortgaged building when it takes possession, as in this case, upon default by the mortgagor.

The bonds are indelibly stamped with the conditions and covenants contained in the indentures of mortgage. The provisions with respect to the distribution of the disputed fund between principal and interest are as binding upon the accountant as they are upon the corporate trustee.

The entire question has been ably treated by the learned auditing judge in the adjudication, in his usual thorough manner, and we are in full accord with his conclusions for the reasons stated by him.

The exceptions are therefore dismissed and the adjudication confirmed absolutely.

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Klein, J.,

We have studied carefully sections 4 and 5 of article V of the indenture of mortgage, and agree with the auditing judge that they fix the manner in which the corporate trustee must distribute the funds it derives from the management of the mortgaged building when it takes possession, as in this case, upon default by the mortgagor.

The bonds are indelibly stamped with the conditions and covenants contained in the indentures of mortgage. The provisions with respect to the distribution of the disputed fund between principal and interest are as binding upon the accountant as they are upon the corporate trustee.

The entire question has been ably treated by the learned auditing judge in the adjudication, in his usual thorough manner, and we are in full accord with his conclusions for the reasons stated by him.

The exceptions are therefore dismissed and the adjudication confirmed absolutely.

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Bluebook (online)

26 Pa. D. & C. 376, 1936 Pa. Dist. & Cnty. Dec. LEXIS 336, Counsel Stack Legal Research, https://law.counselstack.com/opinion/robbs-estate-paorphctphilad-1936.