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Case Citations [1] (July 2021 - April 2022)

handle is hein.ali/resect1483 and id is 1 raw text is: TRUSTS 2D CHAPTER 1. DEFINITIONS AND DISTINCTIONS TOPIC 1. DEFINITIONS § 2. Definition of Trust S.D.Fla.Bkrtcy.Ct.2019. Cit. in case cit. in disc. In consolidated actions, Chapter 7 trustee of debtor's bankruptcy estate and creditor filed adversary proceedings against, among others, debtor, Panamanian foundation that named debtor's children as its beneficiaries, and several entities owned by foundation, seeking to recover for debtor's bankruptcy estate debtor's allegedly undisclosed ownership interests in the entities, and seeking to bar debtor from discharging his debts for failure to disclose those interests. After a bench trial, this court held that debtor was the true beneficiary of foundation and thus the equitable and beneficial owner of the entities, because any interest debtor's children had in foundation was nominal and not related to real interests as beneficiaries. The court cited Restatement Second of Trusts § 2 in noting that, in the trust context, a trust beneficiary possessed an equitable ownership in the trust property, while a trustee possessed legal title to the property. In re Trujillo, 626 B.R. 59, 74. W.D.La.2021. Cit. in case quot. in sup. Creditor that had obtained a New York state-court judgment against debtor and its guarantor, which it domesticated in Louisiana and Texas, filed an action for declaratory relief against several trusts and their trustees in an effort to collect on the judgment, alleging, among other things, that the trusts were alter egos of guarantor. This court determined, sua sponte, that creditor's complaint had to be dismissed for lack of subject-matter jurisdiction, because there was a lack of diversity between the parties. The court cited Restatement Second of Trusts § 2, which provided that a trust was traditionally considered a fiduciary relationship between multiple people rather than a distinct legal entity, in noting that it looked to the citizenship of the beneficiaries of the trusts and of the settlors of the trusts for purposes of determining diversity. GE Oil & Gas, LLC v. Waguespack, 523 F.Supp.3d 926, 932. Cal.App.2021. Quot. in case quot. in sup. Trustees of a revocable living trust they had created for their own benefit filed an unlawful detainer action against tenants of a rental property they had transferred to the trust, seeking to evict tenants under the family move-in provision of city's rent-control ordinance. The trial court sustained defendants' demurrer without leave to amend and entered judgment in their favor. This court reversed and remanded, holding that natural persons like plaintiffs, who were acting as trustees of a revocable living trust and were also the trust's settlors and beneficiaries, qualified as landlords under the provision. The court cited Restatement Second of Trusts § 2 in support of the proposition that, when property was held in trust, legal title to the property was held by the trustee. Boshernitsan v. Bach, 276 Cal.Rptr.3d 109, 114. CHAPTER 4. THE TRUSTEE § 107. Removal of Trustee COPYRIGHT ©2022 By THE AMERICAN LAW INSTITUTE All rights reserved A-I-I 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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