About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

Case Citations [1] (April 2017 through August 2017)

handle is hein.ali/relat1016 and id is 1 raw text is: TRUSTS Generally D.N.M.2016. Cit. generally in disc. and in ftn. In a dispute related to a statutory trust created under the Perishable Agricultural Commodities Act, the court noted that the United States Circuit Courts of Appeal had uniformly held that the interpretation of trust interests under the Act was guided by general trust principles, and that the Restatements of Trusts were an important source of materials for interpreting the New Mexico Uniform Trust Code, which was drafted in connection with the revision of the first Restatement of Trusts. Skyline Potato Company, Inc. v. Hi-Land Potato Company, Inc., 188 F.Supp.3d 1097, 1049-1151. Introductory Note D.N.M.2016. Intro. Note quot. in sup. and in ftn. In a dispute related to a statutory trust created under the Perishable Agricultural Commodities Act, the court noted that the United States Circuit Courts of Appeal had uniformly held that the interpretation of trust interests under the Act was guided by general trust principles, and that, even after the adoption of the New Mexico Uniform Trust Code, New Mexico courts continued to rely on the Restatements of Trusts, which presented an orderly statement of the common law of the United States, to inform their interpretation of trust law. Skyline Potato Company, Inc. v. Hi-Land Potato Company, Inc., 188 F.Supp.3d 1097, 1149, 1150. CHAPTER 7. THE ADMINISTRATION OF THE TRUST TOPIC 6. SUCCESSIVE BENEFICIARIES § 233. Allocation of Receipts and Expenses Between Principal and Income Pa.Super.2016. Com. (k) quot. in case quot. in disc. Church that was entitled to half of the income generated by a perpetual charitable trust filed a petition seeking an increase in the amount that it received from the trust, claiming that distributions from the principal were required in order for it to sustain its financial viability. The trial court denied church's request. Affirming, this court held that the plain language of the trust did not permit discretionary distributions from the corpus of the trust; to the contrary, the language indicated unequivocally that the trust was to be held perpetually and that only the income was to be distributed to the respective beneficiaries. The court rejected church's argument based on a case that relied on Restatement of Trusts § 233 to conclude that principal could be expended to make major repairs to other real property that also constituted principal, reasoning that the case was inapplicable because church was not asking for an asset constituting principal to be repaired from principal. In re Estate of Loucks, 148 A.3d 780, 784. A L Im For earlier citations, see the Appendices, Supplements, or Pocket Parts, if any, that correspond to the subject matter under examination.

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most