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Case Citations [1] (July 2020 - August 2021)

handle is hein.ali/resect1482 and id is 1 raw text is: TRUSTS 2D CHAPTER 1. DEFINITIONS AND DISTINCTIONS TOPIC 1. DEFINITIONS § 1. Scope of the Restatement W.D.Pa.2020. Com. (b) cit. in sup. Borrower that was organized as a limited-liability company sued, among others, servicer of a loan it had obtained from bank, seeking to assert claims sounding in breach of contract under state law. This court granted defendants' motion to dismiss for lack of subject-matter jurisdiction, holding that plaintiff could not satisfy the requirements for diversity jurisdiction, because a member of the trust that was plaintiff's sole member was an American citizen domiciled abroad, or a stateless person, who could not sue or be sued in any federal court. The court explained that the citizenship of plaintiff for purposes of diversity jurisdiction was that of the trust, and that the citizenship of the trust had to be determined by that of all of its members because the trust was a business trust rather than a traditional trust within the meaning of Restatement Second of Trusts §§ 1 and 2. North Hills Village LLC v. LNR Partners, LLC, 479 F.Supp.3d 189, 196, 199. § 2. Definition of Trust W.D.Pa.2020. Quot. in sup., cit. in case quot. in ftn. Borrower that was organized as a limited-liability company sued, among others, servicer of a loan it had obtained from bank, seeking to assert claims sounding in breach of contract under state law. This court granted defendants' motion to dismiss for lack of subject-matter jurisdiction, holding that plaintiff could not satisfy the requirements for diversity jurisdiction, because a member of the trust that was plaintiff's sole member was an American citizen domiciled abroad, or a stateless person, who could not sue or be sued in any federal court. The court explained that the citizenship of plaintiff for purposes of diversity jurisdiction was that of the trust, and that the citizenship of the trust had to be determined by that of all of its members because the trust was a business trust rather than a traditional trust within the meaning of Restatement Second of Trusts §§ 1 and 2. North Hills Village LLC v. LNR Partners, LLC, 479 F.Supp.3d 189, 196, 199. Mass.App.2021. Quot. in sup. Sole trustee of a trust she created to hold her house-in which she retained a life interest as a beneficiary with the remainder interest gifted to her children as the other beneficiaries-after she moved into a long-term nursing facility appealed from the state Medicaid agency's decision to deny her application for long-term benefits on the ground that her assets included the house. The trial court ruled in favor of the agency. This court reversed, holding that, because the trust was a nominee trust and not a true trust, resident possessed no ability to reclaim ownership of the house's remainder interest. The court explained that, while a nominee trust was an entity created for the purpose of holding legal title to property, with the trustee having only perfunctory duties, a true trust was defined as a fiduciary relationship with respect to property, which subjected the trustee to equitable duties to deal with the property for the benefit of the beneficiary under Restatement Second of Trusts §§ 2, 169, and 186. Guilfoil v. Secretary of Executive Office of Health and Human Services, 162 N.E.3d 627, 793. COPYRIGHT ©2021 By THE AMERICAN LAW INSTITUTE All rights reserved Printed in the United States of America For earlier citations, see the Appendices, Supplements, or Pocket Parts, if any, that correspond to the subject matter under examination.

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