Haskell

By this action in declaratory relief, plaintiff sought a declaration of the interest of the parties in certain monies, now on deposit, received pursuant to a gas lease of lands. The trial was before the court, without a jury, on an agreed stipulation of facts.

In 1944 Arthur M. Wood and Ruby F. Wood, father and mother of George J. Wood, loaned the sum of $20,000 to their son, who used this money to purchase land in Sutter County. The loan was to bear interest at 5 percent per annum. In 1946 George J. Wood sold this land and used the funds to purchase an undivided one-half interest in another tract. Title was taken in the name of George J. Wood and Dora D. Wood, his wife, as joint tenants. This purchase made with the knowledge and consent of the parents was understood to he for their account. The remaining one-half interest was purchased by and became the property of Lucille De Jarnatt and does not concern us here.

Thereafter George J. Wood and Dora Wood, his wife, executed a conveyance of a life estate to Arthur M. Wood and Ruby Wood, as follows:

“Whereas, in 1944, or thereabouts, Arthur M. Wood and Ruby Wood, his wife, advanced and loaned to their son, George J. Wood, the sum…