Lynch's Judicial Factor v. Lynch [1900] ScotLR 37_462 (21 February 1900)

Lynch's Judicial Factor v. Lynch [1900] ScotLR 37_462 (21 February 1900)

The enhanced value of the ground-annuals, as part of the undivided trust estate, must be credited equally to the second and third parties, since no specific allocation was made and the estate was administered as a single fund.

Citation
[1900] ScotLR 37_462
Parties
Applicant: David Simpson Carson (Judicial Factor); Second Parties/respondents: Mary Margaret Lynch (Mrs Griffin) and her children, with consent of her husband; Third Parties/respondents: Surviving daughter and widow of James Lynch junior
Jurisdiction
Scotland
Judgment Date
21 February 1900
Procedural Posture
Special Case / Final Judgment
Outcome
Fourth and fifth questions answered affirmatively; enhanced value of ground-annuals to be credited equally to second and third parties; third parties entitled to expenses against second parties.
Legal Topics
Division and Distribution of Estate, Gain on Investments, Rights of Beneficiaries, Apportionment of Trust Assets
Trusts Succession Division and Distribution of Estate Gain on Investments Rights of Beneficiaries Apportionment of Trust Assets

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Parties

David Simpson Carson (Judicial Factor)

Applicant

Mary Margaret Lynch (Mrs Griffin) and her children, with consent of her husband

Second Parties/respondents

Surviving daughter and widow of James Lynch junior

Third Parties/respondents

Procedural Posture

Special Case / Final Judgment

Legal Issues

  1. 1 How should the increase in value of ground-annuals held as trust investments be apportioned between beneficiaries when no specific allocation was made?
  2. 2 Should profit from enhanced asset value be divided equally or in proportion to beneficiaries' interests at purchase date?

Ratio Decidendi

The enhanced value of the ground-annuals, as part of the undivided trust estate, must be credited equally to the second and third parties, since no specific allocation was made and the estate was administered as a single fund.

Court Disposition

Fourth and fifth questions answered affirmatively; enhanced value of ground-annuals to be credited equally to second and third parties; third parties entitled to expenses against second parties.

Orders

  • Enhanced value of ground-annuals credited equally to second and third parties.
  • Third parties entitled to expenses as against second parties.