TURNBULL V. ELLIOTT 27/1923

TURNBULL V. ELLIOTT 27/1923

The clause in question serves as a residual provision, applying only to such parts of the trust fund and its income not previously vested or applied under the trust or its powers. Therefore, the appellant retains her life interest, and only subject to that life interest is the corpus and income to be divided equally between her and the next of kin of the settlor.

Parties
Appellant: Turnbull; Respondent: Elliott; Settlor: Walter Keith Elliott; Beneficiary/appellant: Charlotte Campbell Langtree
Jurisdiction
Australia
Judgment Date
11 August 1924
Procedural Posture
Appeal / Judgment
Outcome
Appeal allowed
Legal Topics
Interpretation of Trust Instruments, Distribution of Trust Property, Life Interests and Remainders
Trusts Equity Wills and Estates Interpretation of Trust Instruments Distribution of Trust Property Life Interests and Remainders

Case Brief

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Parties

Turnbull

Appellant

Elliott

Respondent

Walter Keith Elliott

Settlor

Charlotte Campbell Langtree

Beneficiary/appellant

Procedural Posture

Appeal / Judgment

Legal Issues

  1. 1 Whether the appellant's life interest in the trust property had vested and affects the division of the trust fund and income after the settlor and appellant's deaths in the absence of issue meeting specified conditions.
  2. 2 Proper construction of the residual clause of the ante-nuptial settlement for apportionment of trust property.

Ratio Decidendi

The clause in question serves as a residual provision, applying only to such parts of the trust fund and its income not previously vested or applied under the trust or its powers. Therefore, the appellant retains her life interest, and only subject to that life interest is the corpus and income to be divided equally between her and the next of kin of the settlor.

Court Disposition

Appeal allowed

Orders

  • The decretal order of January 16, 1924, is varied to declare that the appellant is entitled to the income of the property now subject to the trusts of the Indenture of October 15, 1900, during her life.
  • Subject to that life interest, the appellant and the next of kin of the settlor are each entitled to one half the corpus and income of the trust property.