Easter

Security-First National Bank of Los Angeles v. Easter

Good Law
136 Cal. App. 691·1934 Cal. App. LEXIS 975·29 P.2d 422
Court of Appeal of CaliforniaFebruary 14, 1934Docket No. 5044.California2,659 words

Opinion

lead Opinion

Thompson, J.

Certain beneficiaries of a trust estate created by means of a final decree of distribution pursuant to the terms of a will have appealed from a judgment rendered in an equitable action directing the sale of real property contrary to the express prohibition of the trust. The question which is involved in this appeal is whether a court of equity may direct a sale of real property and authorize a reinvestment of the proceeds therefrom contrary to the express terms of a trust, in the absence of consent thereto by the beneficiaries, and without satisfactory proof of the failure of the trust and reasonable assurance of a profitable sale and reinvestment of the proceeds thereof.

Alfred Easter died testate. He was possessed of real property situated in Los Angeles, including a group of houses known as Catalina Court, of the approximate value of $85,000. The deceased left surviving him his widow, Catherine Easter, now Catherine Rupell, and the appellants who are his children by a former wife and his grandchildren. His will was admitted to probate and a final decree of distribution of his estate was entered October 3, 1923, from which no appeal was taken. This decree, pursuant to the terms…

Sign in to read the full opinion

Create a free account to read the complete opinion text, citation history, and good-law status for this case.