Case ID: ny-st-rep_15/html/0721-01.html
Source: Caselaw Access Project
Author: {"author": "Eollin, S.", "license": "Public Domain", "url": "https://static.case.law/"}
Date Created: 2024-08-24T03:29:51.129683

Matter of the Estate of Nelson Barlow, deceased.
    
      (Surrogate’s Court, New York County,
    
    
      Filed January 20, 1888.)
    
    Executors and administrators—May not purchase property op decedent.
    The sale by the administrator of the deceased member of a copartnership of his interest in the firm property to the survivor, and his individual purchase of the same from the survivor is unlawful. A trustee cannot sell trust property to himself.
    
      
      James M. Fisk, for John Ward, contestant; J. McKenna, for adm’rs.
   Eollin, S.

—The report of the referee must be confirmed. The sale by the administrator to the former partner of deceased of his interest in the copartnership property and his purchase of the same individually was unlawful for reasons which rest in sound policy, and which have been stated over and over again by all courts and judges. Whether the sale was in good faith or not is quite immaterial. A trustee may not sell the trust property to himself no matter what the form may be of the transaction, if the plain purpose of it be, as in this case, to convey the property owned by the trustee as such to himself individually. This doctrine is elementary.