Speakman v. Tatem

48 N.J. Eq. 136
CourtNew Jersey Court of Chancery
DecidedFebruary 15, 1891
StatusPublished
Cited by3 cases

This text of 48 N.J. Eq. 136 (Speakman v. Tatem) is published on Counsel Stack Legal Research, covering New Jersey Court of Chancery primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Speakman v. Tatem, 48 N.J. Eq. 136 (N.J. Ct. App. 1891).

Opinion

Pitney, V. C.

This is a bill by a cestui que trust against, his trustee, asking for an accounting of the proceeds of the trust fund alleged to have been received by the trustee. It appearing by the answer •of the trustee, Tatem, and by the evidence at the hearing, that but a trifling amount of what is alleged to be the trust fund ever ■came to the hands of the trustee, the complainant amended his bill by alleging that the trustee failed and neglected to collect and take possession of the trust fund, and praying that he may be charged in this suit with what he might and ought to have collected.

[138]*138The trust was created by deed by husband (the complainant) and wife to the trustee conveying the wife’s estate. By its terms it gave the income to the wife for life, and at her death, the husband surviving, one-third of the income to him for life, and at his death the corpus to the three children of the parties. The material facts are as follows :

In 1852, after the passage of the Married Woman’s act, the complainant married Emma E. Draper, daughter of John Draper, of Philadelphia. The parties resided in Camden, and in 1865 there had been three children born of the marriage, who are defendants herein. In that year John Draper died in Philadelphia, seized of a large personal estate and divers parcels of real estate, some of which were situate in this state, among them two houses and lots on Cooper street, Camden, in one of which — a brick house — complainant and his wife resided. By his will he created special trusts of a ¡portion of his estate in favor of several of his children, and included in one in favor of Mrs. Speakman the house in which she resided. He also gave several legacies, and then disposed of the residue thus:

“All the rest, residue, reversion and remainder of my estate, real, personal and mixed, whatsoever and wheresoever, of which I may1 die seized, possessed or entitled to, I give, devise and bequeath as follows: * * * one full, equal and undivided fourth part thereof unto my daughter Emma Elliott. Speakman, her heirs, executors, administrators’ and assigns forever.”

There were in the same item gifts in similar language to three-other children severally of an undivided fourth part of the residue to each. By the last item he appointed two of his sons— Edmund and Robert — executors, and authorized them to sell any and all of his real estate except the house and lot in Camden devised in trust for Mrs. Speakman. By the first account of the executors, filed in the same year, 1865, it appears that all the-legacies, including those in trust, had been paid and a partial distribution made of the residue, and it appears by the final account, filed in 1879, that what remained of the residue after the partial distribution of 1865 was composed almost entirely of real estate-in Philadelphia.' By the account of 1865 it appears that a frame [139]*139house and lot on Cooper street, Camden, was “awarded” to Mrs. Speakman as a part of her share in the residue, but how it was awarded does not appear. The deed of trust, which is the-basis of complainant’s present suit, was dated and executed and duly acknowledged by Mr. and Mrs. Speakman, January 27th, 1868. It was recorded as a deed of land on the,same day in the clerk’s office of Camden county, and early in February in the office for recording deeds of land in the city and county of Philadelphia. It recites that Mrs. Speakman is possessed of certain personal property and furniture in her dwelling in Camden, and is entitled, as residuary legatee, to a fourth part of the residue of the estate of John Draper, deceased, devised to her by his will—

“ which residue consists of certain personal property and real estate, situate in Pennsylvania, New Jersey and elsewhere ;.,and .said Emma-being desirous that the said property may be secured to her own use during her natural life and be-disposed of as hereinafter provided after her death,”

witnesseth that the said T. S. S. and E. E. S., his wife, in. consideration of the premises and to effectuate the purposes aforesaid^ and in further consideration of $10 <fcc.,

“ granted, bargained, sold, aliened, enfeoffed, released, conveyed, and confirmed^ assigned, transferred and set over unto John O. Tatem, his heirs and assigns forever,”

the personal chattels first mentioned and

“ the one equal undivided one-fourth part of all and singular the residue of the lands, tenements,"heredit'aments'and real estate wheresoever whereof-the said John Draper died seized or in any way entitled to, and of all the personal estate, rights, credits, moneys and effects whereof the said John Draper died, possessed of, and which were devised to said E. E. S. by the last will and testament of John Draper’, deed.,”

with the appurtenances, reversions, remainders, rents and issues and all the estate &c. in law and in equity of the party of the first part &c. To have, to hold &c. unto said J. C. T., his heirs and assigns, to the only proper use &c. of the said J. C. T., his heirs and assigns forever,

[140]*140“ in trust * * * that the said J. C. T., his &c., * * * shall and will at all times hereafter permit and suffer the said E. E. S. to have, hold, use and •enjoy”

the furniture &c., and that he shall hold and will recover, collect and receive and hold the one-fourth part of the residue of the ■estate of John Draper,” * * * and after the death of either the said J. S. S. or E. E. S. * * *

the remaining one-third of the net amount of the said rents, income, interest and profits to pay to the survivor of them, the said E. E. S. and T. S. S., during the term of his or her natural life.”

' Then follows the gift in remainder to the three children. Attached to this deed is this acceptance:

“ John C. Tatem, the grantee above named, hereby assents to and accepts of the above conveyance and -the trusts therein contained.
“ John O. Tatem.”

After the execution of this deed the parties continued to cohabit as man and wife in 'the brick house on Cooper street, Camden, until the 9th of June, 1870, when Mrs. Speakman abandoned her home, leaving her husband in possession. On the 14th of ■the same month Mr. Tatem commenced a suit in replevin against ihe complainant for the household goods &c. in the house covered by the trust deed, and by virtue of the writ in replevin they were taken by the sheriff from the house and the possession of' complainant and delivered to his wife. Erom that time on husband .and wife never met, and all friendly communication between him ■and his wife and her brothers, the executors of her father’s will, and Mr. Tatem ceased. Some time before August 8th, 1871, •complainant wrote Mr. Tatem a letter, whose terms can only be inferred from Mr. Tatem’s reply, which is as follows :

“Woodbury, 8/9/71.
“T. S. Speahnan:
“ I am in receipt of a note from thee stating that thee wishes to confer with me in regard to the trusteeship of thy children — that ‘ thee will endeavor to meet me at any place in Phila. or C.

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Bluebook (online)
48 N.J. Eq. 136, Counsel Stack Legal Research, https://law.counselstack.com/opinion/speakman-v-tatem-njch-1891.