Van Bokkelen v. Tinges

Miller, J., delivered the opinion of the Court. Margaret E. Morton by the residuary clause of her will devised all the residue of her estate to trustees, in trust for the benefit of the children and descendants of her half-sister. By its terms this trust was to continue until the cestuis gue trust severally attained the age of tAventy-one years, and it is admitted the trust is still continuing. And in order to facilitate the management and division of the property, she gave the trustees poAver “to sell and dispose of any part or all of her estate” “at their discretion, and, if the trust continues, to re-invest the proceeds on the same trusts, and so on from time to time as often as they may deem necessary and proper.” Part of the residue thus devised to the trustees was the reversion in a parcel of land in Baltimore County, the leasehold interest in Avhich was vested in Libertus Van Bokkelen.

By the terms of the lease, the lessee had the right to extinguish the rent of $150 per annnm, at any time after the 1st of January, 1860, on payment of the sum of $2500, and Van Bokkelen under this privilege tendered himself ready to pay this sum. The trustees having found what they regarded as a good investment for the money so to he paid to them, filed a bill in equity stating that Van Bokkelen was ready to pay; hut desired to be relieved from responsibility for the re-investment of the ⁵⁷ money, that they had a good investment for the same, and praying that the money might be paid by him, and the re-investment thereof made by them under the direction and sanction of the Court. Van Bokkelen in his answer to this hill after admitting its averments, suggests that the cestuis que trust under the will are necessary parties to the suit, and without their being made parties he cannot obtain a clear title to the reversion, nor he relieved from liability in reference to the re-investment of the money, as there is no clause in the will relieving him from such liability. The case being submitted on bill and answer, the Court passed a decree authorizing Van Bokkelen to pay the 82500 to the trustees, and directing them to convey to him the land mentioned in the lease, “ and that thereupon he shall not in any manner be required to see to the application of the purchase money," and also authorizing the trustees to invest the money as