When realty is given upon trust for sale and blended with personalty, and there is a trust to pay debts, funeral and testamentary expenses, are personalty or realty liable rateably?
Saskatchewan, Canada
The following excerpt is from Executors and Administrators Trust Company v. Mackenzie et al, 1920 CanLII 536 (SK QB):
The learned author in the 7th ed. Theobald on Wills, p. 835, states as follows: But if realty is given upon trust for sale and blended with personalty, and there is a trust to pay debts out of the mixed fund, the realty and personalty are liable rateably. Roberts v. Walker, 1 R. & M. 752, and other cases. Under these authorities in my opinion the debts, funeral and testamentary expenses should be paid, rateably out of the proceeds of the real and personal estate, and I so order.
"The most advanced legal research software ever built."
The above passage should not be considered legal advice. Reliable answers to complex legal questions require comprehensive research memos. To learn more visit www.alexi.com.
Other Questions
Does a clause in a will which states that the real estate and personal estates of the deceased bequeathed to the executors of his will constitute a general fund for his funeral and testamentary expenses and debts? (Saskatchewan, Canada)
Is estate duty charged on real estate not a "testamentary expense" for the executors? (Saskatchewan, Canada)
Does the word “testamentary expense” include estate duty on personal property? (Saskatchewan, Canada)
Is a disclaimer by the only life tenant of a testamentary trust void ab initio? (Saskatchewan, Canada)
Can an executor or administrator of a deceased person be held liable for the debts incurred by the executor and administrator in continuing the trade? (Saskatchewan, Canada)
Does a third party's payment of a debt discharged the debt? (Saskatchewan, Canada)
When a husband and wife are involved in a property transaction, can the husband be held liable for his debts? (Saskatchewan, Canada)
Can a plaintiff combine a claim for debt and one for damages under the Small Debt Procedure? (Saskatchewan, Canada)
What is the test for enforcing a creditor’s obligation to pay a debt in lieu of payment of the debt? (Saskatchewan, Canada)
Can a trustee or mortgagee advance his own money to preserve trust property to preserve the trust property? (Saskatchewan, Canada)
