Opinion ID: 1855904
Heading Depth: 1
Heading Rank: 5

Heading: Capital Stock of Rosebud Lumber.

Text: Herbert Coe assigned his stock and his mother's stock in Rosebud Lumber to the trust. Transfer of all the stock was conditioned upon Herbert C. Coe receiving his mother's (Lelah Coe) 2% interest in Rosebud Lumber. The acceptance of the stock was further conditioned by the following language: At such times as trustee may deem fit, trustee may have all of the stock certificates held by Herbert C. Coe duly transferred on the books of the Rosebud Lumber and Coal company to Farmers State Bank as trustee of the Herbert C. Coe Trust. Herbert Coe accepted the preconditions for transfer of the stock when he, along with the trustee and witnesses, signed the agreement for transfer of the stock that was attached to the trust. When Herbert Coe died in 1985, he had not received the 2% interest his mother held in Rosebud Lumber, nor had he attempted to transfer any of the stock to the trustee. We see no reason to disturb the preconditions that Herbert Coe and the trustee agreed to for transferring the stock. Those preconditions were not met and the trial court properly excluded the stock in the lumber yard from the trust.