Administering the trust created by the settlement of Archibald Douglas Monteath
Trustees Of The Late
J. M. Douglas V. General Monteath
Douglas And Others.—Mar. 30.
Trust—Election.
In this case the Second Division, on the
18th December 18G3, appointed parties to be heard on the
following points:—(1.) Whether the judicial factor, as
representing and administering the trust created by the
settlement of Archibald Douglas Monteath, is entitled to demand
from James M. Douglas's trustees a conveyance of the estate of
Stonebyres; and whether the said trustees are bound or entitled
to make such conveyance, and if so, on what condition. (2.) On
the assumption that the said judicial factor is not entitled to
demand, or the said trustee entitled or bound to make, such
conveyance, what amount the said factor is entitled to require
shall be stated to the credit of Archibald's estate, in respect
of the estate of Stonebyres, or of the money of Archibald's
estate expended in the purchase or improvement thereof, in
separating the trust fund and effects of Archibald Douglas
Monteath from those of James Monteath Douglas; and with a view
to the discussion of these questions, the Court appointed the
trustees of James Monteath Douglas to state in a minute from
what source the money expended in the purchase of the estate of
Stonebyres was obtained; also what sums were expended, and at
what time, on the improvement of said estate, etc. The trustees
accordingly put in a minute stating, inter alia, that the estate
of Stonebyres was purchased in November 1842 for the sum of
L.25,500; that the late J. M. Douglas spent L.23,000 in
permanently improving the estate; that the estate is now worth
the original price, plus the sums expended in improving it. The
judicial factor put in answers generally denying the statements
in the minute, except as to the original price of Stonebyres.
Counsel having .been heard, the case was advised tOtday. After
'finding' on the facts, their Lordships in an interlocutor say
:—Find that in the event of the said factor and the said General
Monteath Douglas electing not to take a conveyance of the said
estate of Stonebyres, under the conditions foresaid, they will
then be entitled in the accounting to receive payment of or
credit for the said sum of L.2o,5()0 paid out of the funds of
the said Archibald Douglas Monteath as the price of the said
estate, with any interest that may, upon a just accounting, be
held to accrue thereon, after making allowance for the liferent
use and enjoyment by the said James Monteath Douglas of the said
sum, as part of the residue of the said Archibald Douglas
Monteath; and appoint the judicial factor of the said General
Monteath Douglas to state in a minute in what way they intended
to exercise the option to which they are entitled in terms of
the above findings.71. |
See also:
1.
Archibald Douglas Monteath
2. Douglas V. Douglas Trustees
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