M'Culloch's Trustees v. Macculloch [1900] ScotLR 37_535 (14 March 1900)

M'Culloch's Trustees v. Macculloch [1900] ScotLR 37_535 (14 March 1900)

The beneficiary's share, though vested, is not payable or conveyable before the period of division and payment fixed by the testator, as the amount available for division cannot be ascertained until that time, and premature payment could prejudice the interests of other beneficiaries.

Citation
[1900] ScotLR 37_535
Parties
Trustees (first Party): M'Culloch's Trustees; Beneficiary (second Party): Bertram Douglas Macculloch
Jurisdiction
Scotland
Judgment Date
14 March 1900
Procedural Posture
Special Case (court of Session, Inner House, Second Division) / Final Judgment
Outcome
Both questions answered in the negative; beneficiary not entitled to immediate payment or conveyance of share.
Legal Topics
Vesting of Interests, Payment of Vested Share, Timing of Division of Trust Estate, Trustee Powers, Beneficiary Rights
Succession Trusts Vesting of Interests Payment of Vested Share Timing of Division of Trust Estate Trustee Powers Beneficiary Rights

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Parties

M'Culloch's Trustees

Trustees (first Party)

Bertram Douglas Macculloch

Beneficiary (second Party)

Procedural Posture

Special Case (court of Session, Inner House, Second Division) / Final Judgment

Legal Issues

  1. 1 Whether a vested beneficiary is entitled to immediate payment or conveyance of their share of the trust residue before the period of division and payment fixed by the testator has arrived.

Ratio Decidendi

The beneficiary's share, though vested, is not payable or conveyable before the period of division and payment fixed by the testator, as the amount available for division cannot be ascertained until that time, and premature payment could prejudice the interests of other beneficiaries.

Court Disposition

Both questions answered in the negative; beneficiary not entitled to immediate payment or conveyance of share.

Orders

  • Find and declare accordingly.
  • Decern.