This memorandum discusses several issues related to the transfer of title between predecessor and successor trustees. It finds that:
1) The exchange of legal title from a predecessor trustee to a successor trustee under the same trust instrument is considered a "transfer" under law, unless the trust document states otherwise.
2) A successor trustee can bring a claim against a predecessor trustee for injuries to the trust estate that occurred before the successor took over, such as for breach of trust duties.
3) The transfer of title between predecessor and successor trustees is exempt from taxation under the D.C. Code, as it is considered a "supplemental" transfer without consideration between trustees of the same trust.
The document discusses the three certainties required to create a valid private express trust: (1) intention, (2) subject matter, and (3) object. It provides details on each certainty, including examples from case law. For certainty of intention, the words used must show the settlor's clear intention to create a trust. For certainty of subject matter, the trust property must be clearly defined or ascertainable. For certainty of object, the beneficiaries must be human and ascertainable as individuals or as members of a defined class.
This document discusses the three certainties required to create a valid trust under English law: certainty of intention, subject matter, and objects. It explains that the intention to create a trust must be clear from imperative words or the substance of the document as a whole. The subject matter and objects of the trust must also be definite and ascertainable. Fixed trusts specify each beneficiary's share, while discretionary trusts give trustees flexibility to determine distributions from the class of potential beneficiaries.
The document discusses the legal requirement of the "three certainties" for establishing an express trust. It explains that for a trust to be valid there must be (1) certainty of intention to create a trust, (2) certainty regarding the trust property or subject matter, and (3) certainty of beneficiaries or objects. It provides details on each of the three certainties, including examples from case law that illustrate how courts determine if each certainty is fulfilled. The document concludes by noting exceptions to the certainty requirements, such as charitable trusts.
Collateral Mortgages - Special Documentary Issues, Rights and RemediesJoanneMarsh
"Collateral Mortgages: Special Documentary Issues, Rights and Remedies" presented by Simon Crawford at the LSUC Practice Gems: Mortgage Enforcement Essentials session, September 13, 2016
This document summarizes two court cases - U.S. Bank Nat’l Ass’n v. Antonio Ibanez from Massachusetts and In Re Adams from North Carolina - that dealt with proof of ownership for foreclosure proceedings. In both cases, the courts found that the foreclosing entities did not provide sufficient evidence that they owned the notes and mortgages in question at the time of foreclosure. The document analyzes the chain of title and documents provided in each case and notes that while the courts were willing to consider various forms of evidence, the gaps and missing information meant ownership could not be proven.
1. The document defines and describes the different elements and kinds of obligations under Philippine contract law. It identifies the active subject, passive subject, efficient cause, and object as the elements of an obligation.
2. It categorizes obligations based on their source according to the New Civil Code, including those arising from law, contracts, quasi-contracts, acts or omissions punished by law, and quasi-delicts. Quasi-contracts include negotiorum gestio and solutio indebiti.
3. The document also outlines the different types of obligations based on criteria like the subject matter, affirmativeness/negativeness, and persons obliged
This document is an excerpt from an omnibus order written by the author for a judge regarding a credit card collection case. The order summarizes that while the plaintiff established a valid contract existed between the creditor and defendant, the plaintiff failed to provide sufficient documentation proving a valid assignment of the debt from the creditor to the plaintiff. As a result, the judge granted summary judgment for the defendant rather than the plaintiff.
Presumed resulting trusts arise when the facts are unknown regarding the ownership of property. There are three types of presumed resulting trusts: 1) voluntary conveyances to strangers, where property transferred without consideration results in a trust for the transferor, 2) presumption in favor of the purchaser, where property purchased in another's name results in a trust for the purchaser, and 3) presumption of advancement, where a voluntary conveyance to a spouse or child results in the property belonging to the spouse or child absolutely unless rebutted. The presumptions can be rebutted by evidence showing a different intention for the ownership of the property.
The document discusses the three certainties required to create a valid private express trust: (1) intention, (2) subject matter, and (3) object. It provides details on each certainty, including examples from case law. For certainty of intention, the words used must show the settlor's clear intention to create a trust. For certainty of subject matter, the trust property must be clearly defined or ascertainable. For certainty of object, the beneficiaries must be human and ascertainable as individuals or as members of a defined class.
This document discusses the three certainties required to create a valid trust under English law: certainty of intention, subject matter, and objects. It explains that the intention to create a trust must be clear from imperative words or the substance of the document as a whole. The subject matter and objects of the trust must also be definite and ascertainable. Fixed trusts specify each beneficiary's share, while discretionary trusts give trustees flexibility to determine distributions from the class of potential beneficiaries.
The document discusses the legal requirement of the "three certainties" for establishing an express trust. It explains that for a trust to be valid there must be (1) certainty of intention to create a trust, (2) certainty regarding the trust property or subject matter, and (3) certainty of beneficiaries or objects. It provides details on each of the three certainties, including examples from case law that illustrate how courts determine if each certainty is fulfilled. The document concludes by noting exceptions to the certainty requirements, such as charitable trusts.
Collateral Mortgages - Special Documentary Issues, Rights and RemediesJoanneMarsh
"Collateral Mortgages: Special Documentary Issues, Rights and Remedies" presented by Simon Crawford at the LSUC Practice Gems: Mortgage Enforcement Essentials session, September 13, 2016
This document summarizes two court cases - U.S. Bank Nat’l Ass’n v. Antonio Ibanez from Massachusetts and In Re Adams from North Carolina - that dealt with proof of ownership for foreclosure proceedings. In both cases, the courts found that the foreclosing entities did not provide sufficient evidence that they owned the notes and mortgages in question at the time of foreclosure. The document analyzes the chain of title and documents provided in each case and notes that while the courts were willing to consider various forms of evidence, the gaps and missing information meant ownership could not be proven.
1. The document defines and describes the different elements and kinds of obligations under Philippine contract law. It identifies the active subject, passive subject, efficient cause, and object as the elements of an obligation.
2. It categorizes obligations based on their source according to the New Civil Code, including those arising from law, contracts, quasi-contracts, acts or omissions punished by law, and quasi-delicts. Quasi-contracts include negotiorum gestio and solutio indebiti.
3. The document also outlines the different types of obligations based on criteria like the subject matter, affirmativeness/negativeness, and persons obliged
This document is an excerpt from an omnibus order written by the author for a judge regarding a credit card collection case. The order summarizes that while the plaintiff established a valid contract existed between the creditor and defendant, the plaintiff failed to provide sufficient documentation proving a valid assignment of the debt from the creditor to the plaintiff. As a result, the judge granted summary judgment for the defendant rather than the plaintiff.
Presumed resulting trusts arise when the facts are unknown regarding the ownership of property. There are three types of presumed resulting trusts: 1) voluntary conveyances to strangers, where property transferred without consideration results in a trust for the transferor, 2) presumption in favor of the purchaser, where property purchased in another's name results in a trust for the purchaser, and 3) presumption of advancement, where a voluntary conveyance to a spouse or child results in the property belonging to the spouse or child absolutely unless rebutted. The presumptions can be rebutted by evidence showing a different intention for the ownership of the property.
Gaggero-Arenzano Interest, '97-'07, in a Class of Beneficiariesjamesmaredmond
The plaintiff's closing argument summarizes four trust documents that were disclosed pursuant to a court order. The documents establish trusts known as the Arenzano Trust and Terra Mar Trust. The plaintiff argues that the trusts were created by the defendant Steve Gaggero in an attempt to shield his assets from liability related to fraudulent conduct against the plaintiffs. Specifically, the plaintiff points to evidence that Gaggero controlled the entities in question and their assets despite being removed as a beneficiary of one trust just as he defrauded the plaintiffs. The plaintiff requests the court find Gaggero and the entities jointly and severally liable for fraud and the return of plaintiffs' money.
The document summarizes key trends in foreclosure law in New York in 2012. Appellate courts strictly enforced contracts and required lenders to prove they have standing by demonstrating ownership of the promissory note. If standing was defective when the case began, it could not be cured and the case had to be refiled. The Second Department, located in New York City, had the most reported foreclosure cases.
The document summarizes key foreclosure law trends and appellate court decisions from 2012. Some of the main points covered include: appellate courts are strictly enforcing contracts as written; the Second Department has many reported foreclosure cases; plaintiffs must prove they have standing by possessing the original note or valid assignment; if standing is defective when initially filed it cannot be corrected; and lenders must seek court approval before taking actions beyond what the mortgage authorizes.
The document summarizes appellate court decisions from 2012 regarding mortgage foreclosure cases in New York State. Some key points include:
- Courts are strictly enforcing contracts as written and requiring lenders to prove they have proper standing to foreclose by demonstrating ownership of the promissory note.
- If standing is defective when the case is filed, it cannot be corrected and the case must be restarted.
- Lenders must explain the circumstances if the promissory note was lost and prove they have not sold or transferred the note.
- Foreclosure cases will not be set aside just because the auctioned property was smaller than specified in the contract; the amount foreclosed will just be reduced proportionally.
The court granted a motion to add additional judgment debtors to a $1.8 million judgment against plaintiff Stephen Gaggero. The additional judgment debtors included six entities (four limited partnerships and two LLCs) that were formerly owned by Gaggero, totaling $35-40 million in assets in 1998. It also included the trustee, Joseph Praske, of three trusts that now owned the entities, after Gaggero transferred ownership of the entities to the trusts in 1998 as part of an "estate plan". The court found all were alter egos of Gaggero based on evidence that Gaggero controlled the entities and trusts, and used them to avoid creditors like the defendants in this case. The additional judgment
Constructive trusts arise by operation of law when it would be unfair for a person to deny a beneficial interest in property to another. There are two main types - institutional constructive trusts, which develop through case law, and remedial constructive trusts used to allocate property interests equitably when a relationship breaks down. Constructive trusts can arise in several situations, including when there is a breach of fiduciary duty, when strangers receive trust property knowing it was transferred in breach of trust, through agreements to create secret trusts or mutual wills, and when statutes are used as an "engine of fraud." Equitable principles prevent unjust enrichment through constructive trusts.
1) C. Mendoza guaranteed a loan from Tan to the Bernal spouses for cotton materials. Mendoza later issued stop payment on checks to Tan due to the Bernal's failure to deposit funds. Tan sued Mendoza, who then entered a compromise agreement with Tan waiving all claims.
2) The court ruled the compromise agreement was invalid because Mendoza was not represented by counsel and could not alienate the credit without notice to the assignee, Litton Estate.
3) Yuliongsiu pledged vessels to PNB as collateral for a loan. When he defaulted, PNB took possession of the vessels without notifying Yuliongsiu. The court found
This document discusses civil law obligations and contracts under Philippine law. It defines an obligation as a juridical necessity to give, do, or not do something that can be demanded. There are four elements of an obligation: an active subject who can demand fulfillment, a passive subject who is obligated to perform, a juridical tie that creates the relationship, and a prestation or object of the obligation. Obligations can arise from law, contracts, quasi-contracts, delicts, and quasi-delicts. The document outlines the various classifications and types of obligations and their elements in detail.
The document provides a historical overview and summary of fraudulent transfer law in Vermont. It begins with the origins of fraudulent transfer law in 16th century England and discusses how various states, including Vermont, adopted versions of the Statute of 13 Elizabeth. It then summarizes Vermont's adoption of the Uniform Fraudulent Transfer Act in 1996 and how the Act modernized fraudulent transfer standards. The summary concludes by outlining the key elements, parties, remedies, standards of proof, and statute of limitations in fraudulent transfer cases under Vermont law.
The memorandum discusses the principle of quantum meruit as it applies to an attorney's right to compensation after being discharged from a case. McDonald and Fontana represented Ida Ipana in a personal injury suit against Shipley Supermarket but were subsequently discharged. Quantum meruit allows an attorney to recover the reasonable value of services rendered to prevent unjust enrichment. Relevant Illinois statutes and case law establish that McDonald and Fontana would likely be entitled to a percentage of any recovery or could place a lien on the case until their fees are resolved.
This document discusses several issues that arise in mortgage foreclosure cases when the original promissory note has been sold and transferred multiple times during the securitization process.
It notes that a high percentage of notes have been "lost or destroyed" during securitization. While UCC §3-309 provides a process for enforcing lost notes, the foreclosing party must prove they are the holder of the note. However, in many cases the chain of assignments is broken and it is impossible to prove who the real holder is.
The document examines issues of standing, pleading requirements that the real party in interest be named, and evidentiary problems when witnesses cannot directly testify to facts of the default but only what is stated in computer
The document discusses the appointment and role of a special administrator in the Philippines. It defines a special administrator as a temporary representative appointed by the court to preserve and manage an estate when there is a delay in appointing a regular executor or administrator. The court has broad discretion in appointing special administrators and is not bound by the same rules as for regular administrators. A special administrator's powers cease once a regular executor or administrator is appointed.
Preferential transfers made to insiders can be recovered as fraudulent conveyances under state law, even without bankruptcy. The seminal case of Southern Industries established that payments made by a corporation to officers, directors, or major shareholders are not made in good faith and lack fair consideration, since insiders have a duty to act for all creditors' benefit. Creditors can use this doctrine and the fraudulent conveyance law to recover preferential payments made to certain insiders outside of bankruptcy for their own benefit.
This newsletter summarizes recent reinsurance case law developments. The first case discusses an 8th Circuit ruling that an endorsement incorporating a jurisdictional clause superseded an alternative dispute resolution clause. The second case discusses a New Jersey ruling staying litigation in favor of arbitration over an alleged breach involving an offset dispute. The third case discusses an Illinois ruling dismissing an assignee's request for pre-answer security and motion to compel arbitration against a sovereign-owned reinsurer.
This newsletter provides summaries of recent reinsurance case law and regulatory developments from March 2014. It includes summaries of cases from New York, Tennessee, and California federal courts related to arbitration awards, protected cell reinsurance agreements, preclusion of subsequent arbitrations, and common interest privilege with reinsurers. It also summarizes cases related to tax treatment of retrocessional agreements, dismissal of defenses in a facultative reinsurance dispute, denial of stay in a mortgage reinsurance case, and assumption versus reinsurance.
This document discusses several methods of extinguishing obligations under Peruvian civil law, including consolidation, compensation, dation in payment, novation, condonation, and mutual rescission. It provides definitions and examples for each method. Consolidation extinguishes an obligation when the qualities of creditor and debtor unite in one person. Compensation extinguishes obligations when two parties are respectively creditor and debtor of each other. Dation in payment allows fulfilling an obligation with a different payment than originally agreed. Novation replaces one obligation with another by agreement. Condonation is the creditor forgiving the debt, extinguishing the obligation. Mutual rescission ends a bilateral agreement by mutual consent, unless it
Judge Mosman avoided directly ruling on the application of SB 814 to the defense costs being sought by Schnitzer, instead holding that Schnitzer was judicially estopped from arguing that its defense counsel was "independent counsel" subject to SB 814.
The court appoints a receiver to enforce a judgment against several judgment debtors. The receiver is given broad powers to investigate and take control of the debtors' assets and records. This includes investigating properties, business interests, bank accounts, transfers of assets, and employment of agents. The debtors are ordered to turn over financial documents and records to the receiver and are prohibited from interfering with the receiver or disposing of assets.
This newsletter summarizes recent court cases related to reinsurance:
1) The Third Circuit ruled that a reinsurer did not need to demonstrate prejudice from late notice of loss given by the reinsured in order to be relieved of indemnity obligations, applying New York law.
2) A New York federal court confirmed multiple arbitration awards in favor of a cedent, rejecting the reinsurer's arguments to vacate the awards.
3) A Wisconsin federal court transferred a dispute over arbitrator selection and consolidation to New York based on forum selection clauses in the reinsurance contracts.
Howard hired a private investigator to conduct surveillance on his ex-wife Patricia after being ordered to pay her monthly maintenance. The investigator recorded extensive video and notes of Patricia and her partner Ellen, including intimate moments, without their knowledge or consent. Patricia's lawyer demanded copies of the investigator's materials from Howard's lawyer during discovery for a potential legal action, but was refused. Patricia has the right to obtain the materials during discovery even if they are not admissible in court. The notes would be admissible if the investigator testifies, but videos with audio may not be due to privacy laws. Patricia is considering suing Howard for invasion of privacy regarding the surveillance.
Bill, an American citizen, wants to apply for asylum in the US on behalf of his niece Jane, a Canadian citizen. However, Jane's father John, a Canadian citizen, has custodial rights over Jane and could oppose the application. For Jane to be granted asylum, she would need to demonstrate a credible well-founded fear of persecution upon returning to Canada, but the facts provided so far do not clearly show this. It is recommended to gather more evidence of specific political persecution before proceeding with the application.
Gaggero-Arenzano Interest, '97-'07, in a Class of Beneficiariesjamesmaredmond
The plaintiff's closing argument summarizes four trust documents that were disclosed pursuant to a court order. The documents establish trusts known as the Arenzano Trust and Terra Mar Trust. The plaintiff argues that the trusts were created by the defendant Steve Gaggero in an attempt to shield his assets from liability related to fraudulent conduct against the plaintiffs. Specifically, the plaintiff points to evidence that Gaggero controlled the entities in question and their assets despite being removed as a beneficiary of one trust just as he defrauded the plaintiffs. The plaintiff requests the court find Gaggero and the entities jointly and severally liable for fraud and the return of plaintiffs' money.
The document summarizes key trends in foreclosure law in New York in 2012. Appellate courts strictly enforced contracts and required lenders to prove they have standing by demonstrating ownership of the promissory note. If standing was defective when the case began, it could not be cured and the case had to be refiled. The Second Department, located in New York City, had the most reported foreclosure cases.
The document summarizes key foreclosure law trends and appellate court decisions from 2012. Some of the main points covered include: appellate courts are strictly enforcing contracts as written; the Second Department has many reported foreclosure cases; plaintiffs must prove they have standing by possessing the original note or valid assignment; if standing is defective when initially filed it cannot be corrected; and lenders must seek court approval before taking actions beyond what the mortgage authorizes.
The document summarizes appellate court decisions from 2012 regarding mortgage foreclosure cases in New York State. Some key points include:
- Courts are strictly enforcing contracts as written and requiring lenders to prove they have proper standing to foreclose by demonstrating ownership of the promissory note.
- If standing is defective when the case is filed, it cannot be corrected and the case must be restarted.
- Lenders must explain the circumstances if the promissory note was lost and prove they have not sold or transferred the note.
- Foreclosure cases will not be set aside just because the auctioned property was smaller than specified in the contract; the amount foreclosed will just be reduced proportionally.
The court granted a motion to add additional judgment debtors to a $1.8 million judgment against plaintiff Stephen Gaggero. The additional judgment debtors included six entities (four limited partnerships and two LLCs) that were formerly owned by Gaggero, totaling $35-40 million in assets in 1998. It also included the trustee, Joseph Praske, of three trusts that now owned the entities, after Gaggero transferred ownership of the entities to the trusts in 1998 as part of an "estate plan". The court found all were alter egos of Gaggero based on evidence that Gaggero controlled the entities and trusts, and used them to avoid creditors like the defendants in this case. The additional judgment
Constructive trusts arise by operation of law when it would be unfair for a person to deny a beneficial interest in property to another. There are two main types - institutional constructive trusts, which develop through case law, and remedial constructive trusts used to allocate property interests equitably when a relationship breaks down. Constructive trusts can arise in several situations, including when there is a breach of fiduciary duty, when strangers receive trust property knowing it was transferred in breach of trust, through agreements to create secret trusts or mutual wills, and when statutes are used as an "engine of fraud." Equitable principles prevent unjust enrichment through constructive trusts.
1) C. Mendoza guaranteed a loan from Tan to the Bernal spouses for cotton materials. Mendoza later issued stop payment on checks to Tan due to the Bernal's failure to deposit funds. Tan sued Mendoza, who then entered a compromise agreement with Tan waiving all claims.
2) The court ruled the compromise agreement was invalid because Mendoza was not represented by counsel and could not alienate the credit without notice to the assignee, Litton Estate.
3) Yuliongsiu pledged vessels to PNB as collateral for a loan. When he defaulted, PNB took possession of the vessels without notifying Yuliongsiu. The court found
This document discusses civil law obligations and contracts under Philippine law. It defines an obligation as a juridical necessity to give, do, or not do something that can be demanded. There are four elements of an obligation: an active subject who can demand fulfillment, a passive subject who is obligated to perform, a juridical tie that creates the relationship, and a prestation or object of the obligation. Obligations can arise from law, contracts, quasi-contracts, delicts, and quasi-delicts. The document outlines the various classifications and types of obligations and their elements in detail.
The document provides a historical overview and summary of fraudulent transfer law in Vermont. It begins with the origins of fraudulent transfer law in 16th century England and discusses how various states, including Vermont, adopted versions of the Statute of 13 Elizabeth. It then summarizes Vermont's adoption of the Uniform Fraudulent Transfer Act in 1996 and how the Act modernized fraudulent transfer standards. The summary concludes by outlining the key elements, parties, remedies, standards of proof, and statute of limitations in fraudulent transfer cases under Vermont law.
The memorandum discusses the principle of quantum meruit as it applies to an attorney's right to compensation after being discharged from a case. McDonald and Fontana represented Ida Ipana in a personal injury suit against Shipley Supermarket but were subsequently discharged. Quantum meruit allows an attorney to recover the reasonable value of services rendered to prevent unjust enrichment. Relevant Illinois statutes and case law establish that McDonald and Fontana would likely be entitled to a percentage of any recovery or could place a lien on the case until their fees are resolved.
This document discusses several issues that arise in mortgage foreclosure cases when the original promissory note has been sold and transferred multiple times during the securitization process.
It notes that a high percentage of notes have been "lost or destroyed" during securitization. While UCC §3-309 provides a process for enforcing lost notes, the foreclosing party must prove they are the holder of the note. However, in many cases the chain of assignments is broken and it is impossible to prove who the real holder is.
The document examines issues of standing, pleading requirements that the real party in interest be named, and evidentiary problems when witnesses cannot directly testify to facts of the default but only what is stated in computer
The document discusses the appointment and role of a special administrator in the Philippines. It defines a special administrator as a temporary representative appointed by the court to preserve and manage an estate when there is a delay in appointing a regular executor or administrator. The court has broad discretion in appointing special administrators and is not bound by the same rules as for regular administrators. A special administrator's powers cease once a regular executor or administrator is appointed.
Preferential transfers made to insiders can be recovered as fraudulent conveyances under state law, even without bankruptcy. The seminal case of Southern Industries established that payments made by a corporation to officers, directors, or major shareholders are not made in good faith and lack fair consideration, since insiders have a duty to act for all creditors' benefit. Creditors can use this doctrine and the fraudulent conveyance law to recover preferential payments made to certain insiders outside of bankruptcy for their own benefit.
This newsletter summarizes recent reinsurance case law developments. The first case discusses an 8th Circuit ruling that an endorsement incorporating a jurisdictional clause superseded an alternative dispute resolution clause. The second case discusses a New Jersey ruling staying litigation in favor of arbitration over an alleged breach involving an offset dispute. The third case discusses an Illinois ruling dismissing an assignee's request for pre-answer security and motion to compel arbitration against a sovereign-owned reinsurer.
This newsletter provides summaries of recent reinsurance case law and regulatory developments from March 2014. It includes summaries of cases from New York, Tennessee, and California federal courts related to arbitration awards, protected cell reinsurance agreements, preclusion of subsequent arbitrations, and common interest privilege with reinsurers. It also summarizes cases related to tax treatment of retrocessional agreements, dismissal of defenses in a facultative reinsurance dispute, denial of stay in a mortgage reinsurance case, and assumption versus reinsurance.
This document discusses several methods of extinguishing obligations under Peruvian civil law, including consolidation, compensation, dation in payment, novation, condonation, and mutual rescission. It provides definitions and examples for each method. Consolidation extinguishes an obligation when the qualities of creditor and debtor unite in one person. Compensation extinguishes obligations when two parties are respectively creditor and debtor of each other. Dation in payment allows fulfilling an obligation with a different payment than originally agreed. Novation replaces one obligation with another by agreement. Condonation is the creditor forgiving the debt, extinguishing the obligation. Mutual rescission ends a bilateral agreement by mutual consent, unless it
Judge Mosman avoided directly ruling on the application of SB 814 to the defense costs being sought by Schnitzer, instead holding that Schnitzer was judicially estopped from arguing that its defense counsel was "independent counsel" subject to SB 814.
The court appoints a receiver to enforce a judgment against several judgment debtors. The receiver is given broad powers to investigate and take control of the debtors' assets and records. This includes investigating properties, business interests, bank accounts, transfers of assets, and employment of agents. The debtors are ordered to turn over financial documents and records to the receiver and are prohibited from interfering with the receiver or disposing of assets.
This newsletter summarizes recent court cases related to reinsurance:
1) The Third Circuit ruled that a reinsurer did not need to demonstrate prejudice from late notice of loss given by the reinsured in order to be relieved of indemnity obligations, applying New York law.
2) A New York federal court confirmed multiple arbitration awards in favor of a cedent, rejecting the reinsurer's arguments to vacate the awards.
3) A Wisconsin federal court transferred a dispute over arbitrator selection and consolidation to New York based on forum selection clauses in the reinsurance contracts.
Howard hired a private investigator to conduct surveillance on his ex-wife Patricia after being ordered to pay her monthly maintenance. The investigator recorded extensive video and notes of Patricia and her partner Ellen, including intimate moments, without their knowledge or consent. Patricia's lawyer demanded copies of the investigator's materials from Howard's lawyer during discovery for a potential legal action, but was refused. Patricia has the right to obtain the materials during discovery even if they are not admissible in court. The notes would be admissible if the investigator testifies, but videos with audio may not be due to privacy laws. Patricia is considering suing Howard for invasion of privacy regarding the surveillance.
Bill, an American citizen, wants to apply for asylum in the US on behalf of his niece Jane, a Canadian citizen. However, Jane's father John, a Canadian citizen, has custodial rights over Jane and could oppose the application. For Jane to be granted asylum, she would need to demonstrate a credible well-founded fear of persecution upon returning to Canada, but the facts provided so far do not clearly show this. It is recommended to gather more evidence of specific political persecution before proceeding with the application.
Eric Lazar, owner of a SpeedPro Imaging franchise in Chicago, was awarded the contract to produce all the signage for Chi-town Rising, Chicago's New Year's Eve celebration. This was an ambitious undertaking as his business was new and lacked large format printing capabilities. Lazar worked with three other SpeedPro studios, utilizing the relationships he built, to complete over 7,000 square feet of graphics by the deadline. The successful project established Lazar's shop and demonstrated his ability to manage a large undertaking.
Suchhanda Dey is a senior performance test engineer with 5 years of experience in the IT sector. She has extensive experience in performance testing tools like LoadRunner and Quality Center and has worked on projects for clients in various domains including insurance, retail, and telecom. She is proficient in all phases of the software development and testing lifecycles and has experience developing performance test scripts, executing tests, analyzing results, and preparing reports.
The document outlines 6 computer courses taught by Luisa Maria Vargas Santamaria at the Escuela Normal Superior Leonor Alvarez Pinzon in Tunja, Colombia in 2016. The courses included Excel 2013, Word 2013, HTML, Excel 2010, an internet course, and Windows 7.
Un delito informático es cualquier acción ilegal que se lleva a cabo a través de medios informáticos o que tiene como objetivo dañar computadoras, dispositivos electrónicos o redes de Internet. La ley colombiana tipifica delitos como el acceso abusivo a sistemas informáticos sin autorización y la obstaculización ilegítima de sistemas o redes. Algunos ejemplos de delitos informáticos son las manipulaciones de datos, programas o sistemas, así como el acceso no autorizado a servicios y sistem
SpeedPro Chicago Loop Capabilities Overviewspclmarketing
This document introduces SpeedPro as a marketing solutions company that specializes in print and focuses on superior customer service and innovative ideas. It highlights SpeedPro's business philosophy of operating with integrity and giving back 1% of profits to charity. SpeedPro has won numerous awards and franchising accolades. It supports veterans through charitable events and employs military veterans. SpeedPro offers a range of printing services and technologies to provide creative graphic solutions for banners, displays, murals, decor, and more through full-color printing.
The document provides guidance on writing an effective office memorandum. It explains that memoranda are used to analyze facts of a client's case under relevant law in order to inform attorneys without persuading. It then outlines the typical parts of a memorandum, including the heading, issues presented, brief answer, facts, and discussion. The discussion section should use tests from cases as an outline, with paragraphs structured around the test and supported by facts and legal authorities. Contrary authorities should also be addressed. The goal is clear, logical analysis of the issues.
Law School Writing Sample - Interoffice MemorandumArash Razavi
The memorandum discusses a case involving Casey McNeill, a high school senior who was suspended for refusing to cut his long hair and submit to a drug test. McNeill grew out his hair for a school musical production of Hair and faced harassment from peers for keeping his long hair after the show. The school claimed his hair violated its dress code requiring "good grooming." McNeill also refused a random drug test required for extracurricular activities. The memorandum analyzes whether the school had authority to suspend McNeill under the First, Fourth, and Fourteenth Amendments. It concludes the suspension for his hair violated McNeill's free speech and due process rights and the drug test policy violated his privacy rights.
Memorandum writing how to write memo - academic assignment - www.topgradepa...Top Grade Papers
Mr. Heil, a guest speaker and former employee of Voice of America, gave a presentation with advice on improving listening skills. He emphasized focusing on key ideas, taking meaningful notes, asking clarifying questions, analyzing non-verbal cues, summarizing what was said, and practicing regularly. The speaker stressed focusing on content over delivery style and blocking out distractions while listening.
The memo recommends three ways for the Computown Public School System to bridge the digital divide:
1. Build an adequate technology infrastructure with hardware, networking, and internet connectivity using free or low-cost resources.
2. Take advantage of free online educational resources like email accounts, web hosting, and course management tools to boost communications and classroom efficiency.
3. Enable administrators, teachers, students, and parents to utilize the new technology and ensure continual learning through hierarchical leadership and support from agencies that provide technology education.
SpeedPro Chicago Loop Capabilities Overviewspclmarketing
SpeedPro Chicago Loop, Large Format Digital Graphics, Grand Format, Trade Show Graphics, Event Graphics, Exhibits, Banners, Vehicle Wraps, Corporate Decor, Design, Graphic Wallpapers, Wall Floor Ceiling Murals, Wallcoverings, marketing, Printing, Digital Graphics,
El documento describe la historia y evolución de Internet. Comenzó en la década de 1960 como una red militar y académica llamada ARPANET que usaba protocolos de conmutación de paquetes. En los años siguientes, ARPANET se expandió y evolucionó hasta convertirse en Internet, una red mundial descentralizada que usa protocolos TCP/IP. Internet ha revolucionado la comunicación al permitir el acceso global a la información y los servicios en línea.
Rumela Chandra is seeking a career in the changing vernacular cinema industry. She has experience as a writer for several publications and has worked in public relations. Rumela has also acted with the Royal Shakespeare Company and Jadavpur University Drama Club. She holds a Bachelor's degree from Jadavpur University Department of Comparative Literature and has won several awards for her public speaking, writing, and dance skills. Rumela is multilingual and has a strong interest in the arts.
Este documento presenta propuestas de rediseño realizadas por tres estudiantes de diseño industrial y de servicios para el grupo 207102_66. Leidy Johana Gamba, Diana Lucia Lozano y Yenny Paola Barreto Díaz trabajaron en el proyecto y cada una de ellas es responsable de una parte del documento.
The document discusses the requirements for creating a valid trust according to English common law as established in the 1840 case Knight v. Knight. It states that for a trust to be validly created, there must be (1) imperative words used to establish the trust, (2) certainty regarding the subject matter or property of the trust, and (3) certainty regarding the objects or persons intended to be benefited. It goes on to explain how these requirements have been applied and interpreted in subsequent Sri Lankan case law regarding express trusts.
Trust act 1882, an eleborative articleSehrish Saba
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This document discusses the definition and key elements of an express trust under Sri Lankan law, drawing from English law. It defines a trust as an equitable obligation on the trustee to hold property for the benefit of beneficiaries. The trustee holds legal title to the trust property, while the beneficiary holds equitable title. For an express trust to be valid, it requires (1) a trustee, (2) trust property, and (3) a beneficiary. The trustee's obligation arises from confidence placed in them by the author of the trust. A trust differs from a contract in that the beneficiary has a beneficial interest in the trust property itself, not just a right to the trustee's performance.
Assignments Of Equitable Interests And The Origins Of Re RoseScott Donald
This document discusses the origins and development of the rule in Re Rose. It traces the rule back to earlier foundational cases in trust law from the 18th century that established that courts could not create or enforce trusts where the facts did not support one. Over the following century, the law was refined such that courts could enforce voluntary transfers of equitable interests where the transferor had done everything possible to effect the transfer, even if legal title was not fully transferred. This evolved into the rule stated in Re Rose that a voluntary assignment of an equitable interest is effective when the assignor has done all they can to transfer the interest.
Independence and unconscionability - Lessons for lenders and solicitors in ad...Nola Pearce
The New South Wales Supreme Court set aside a personal guarantee given by an elderly third party guarantor for a $23 million loan to a property development company. The Court found that the transaction was not adequately explained to the guarantor by an independent advisor as required. Specifically, the solicitor advising the guarantor was not independent as he also advised the borrower, and his explanation of the transaction and risks was cursory and incomplete. As a result, the Court ruled it would be unconscionable to enforce the guarantee against the guarantor. This case reinforces the need for independence in advising third party guarantors and the obligation of lenders to ensure adequate independent advice is provided. It also
The document appears to be an excerpt from the Indian Trusts Act of 1882 that defines key terms related to trusts and outlines the duties and responsibilities of trustees. Some key points:
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Constructive trusts are implied trusts that equity recognizes to prevent unfairness, where a person obtains property through wrongful means or in circumstances that would make it unjust for them to keep the property. The document outlines the different situations that can give rise to a constructive trust, such as fraud, breach of fiduciary duty, and acquisition of property through killing. It also discusses the flexible "new model" of constructive trust introduced by Lord
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Learning Outcome:
Students will :
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Similar to Moneri Successor Trustee Final Memo (20)
1. 1
MEMORANDUM
TO: Richard Wilson - Chief, Tax and Finance Section
FROM: Neo Moneri - Intern
DATE: April 2, 2015
RE: Exchange of Title between Predecessor Trustee and Successor Trustee
Issue #1
Is a change to reflect the legal title from a predecessor trustee to a successor trustee in the
same trust estate, pursuant to a single trust instrument, a “transfer” of the legal title in the corpus
(property) of the trust?
Short Answer #1
Yes. Provided that there is no contrary language within the trust instrument itself or that
there is no contrary language in an applicable statute, a change reflecting the exchange of legal
title from a predecessor trustee to a successor trustee is a transfer.
Issue # 2
Can a successor trustee sufficiently assert a claim against a predecessor trustee for an
injury to the estate that occurred before the successor trustee acquired legal title of the estate?
Short Answer # 2
Probably yes. There is nothing that prevents a successor trustee, presently administering a
trust estate, from sufficiently stating a claim against a predecessor trustee for breach of trust,
suggesting that injuries generally occurring before a successor trustee’s acquisition of legal title
can sufficiently be claimed by the successor trustee.
Issue #3
Is an exchange of title from a predecessor trustee to a successor trustee, pursuant to a
single trust instrument, exempt from taxation under the D.C. Code?
2. 2
Short Answer #3
Yes. The transfer of title between a predecessor trustee and a successor trustee is
“supplemental” under the D.C. Code and thus triggers a tax exemption for such a transfer.
GENERAL LAW
1. Creation of Trusts
The settlor is the creator of a trust (D.C. Code § 19-1301.03); (RESTATEMENT
(SECOND) OF TRUSTS § 3) (“RESTATEMENT”), and the trust itself is created "when the
settlor manifests an intent to place trust property in the hands of the trustee for the benefit of
another." In Re Estate of Reilly, 933 A.2d 830, 839 (D.C. 2007). The settlor may fulfill her desire
to create the trust by way of a deed, an instrument defined in Black’s Law Dictionary as "[a]
conveyance of realty . . . whereby title to realty is transferred from one to another." BLACK’S
LAW DICTIONARY 414 (6th ed. 1990) (“BLACK’S”). Section 17 of the Restatement (Second) of
Trusts, in Comment (d) and Illustration 2, provides an exposition into how a deed creates an
estate. RESTATEMENT § 17 ("A, the owner of Blackacre, executes, acknowledges and records
a deed conveying Blackacre to A as trustee for a designated beneficiary. A is trustee of
Blackacre for the beneficiary."); ("If a person has a power of appointment and makes an
appointment to another person as a trustee, a trust is created, provided that the power is properly
exercised.”).
3. 3
2. Legal and Equitable Interests Created by the Formation of a Trust
Declaring a trust transfers legal title to the trustee and equitable title to the beneficiaries
of the trust. Ackerman v. Abbot, 978 A.2d 1250, 1256 (D.C. 2009) (quoting Barker v. Aiello, 581
A.2d 462, 465 (Md. Ct. Spec. App. 1990)) ("The declaration of a trust transfers legal title to the
trustee.”); Id. (quoting II SCOTT ON TRUSTS § 130, at 409 (4th ed. 1987)) ("[I]t seems clear
that the beneficiary of a trust . . . has an equitable interest in the subject matter of the trust.”).
3. Appointing Trustees
The settlor, in declaring the trust, can name as many trustees as she desires, including any
successor trustees. RESTATEMENT § 108 ("If a trust is created and . . . if the trustee . . . ceases
for any reason to be trustee, a new trustee can be appointed . . . by the person, if any, who by the
terms of the trust is authorized to appoint a trustee.”). Comment (g) of § 108 further illustrates
the power to designate successor trustees: "In the instrument creating the trust the settlor may
designate who shall become trustee if the original trustee designated by him should cease to be
trustee; or may provide for an additional trustee." Id.
4. Power of the Trustee
The creation of the trust creates powers of the trustee that are not personal to him but are
inherent to the office of the trustee.1
Within that office, the trustee is limited to the powers
demarcated by the deed. In re Estate of Cavin, 728 A.2d 92, 93 (D.C. 1999) (“A court’s initial
focus must be on the terms of the trust. . . . [I]t is the intent of the testator which controls the
1
"Unless it is otherwise provided by the trust instrument, or an amendment thereof, or by court order, all powers of
a trustee shall be attached to the office and shall not be personal." RESTATEMENT (SECOND) OF TRUSTS, §
196.
4. 4
disposition of her estate.”). Under common law, these powers can include the power to convey
title. See e.g. Haw v. Brown, 1 MacArt, 189, 193 (D.C. 1873) ("[A] trustee . . . can convey no
property except by virtue of the instrument.”).
5. Actionable Claims Brought by a Successor Trustee for Injuries under the Administration
of a Predecessor Trustee
In Rearden v. Riggs National Bank, 677 A.2d 1032 (D.C. 1996) (“Rearden”), a case of
first impression, a personal representative “occup[ying] a position analogous to a successor
trustee” filed a complaint against a predecessor for failure to properly administer the relevant
trust instrument.2
Rearden, at 1033. Through this likening, the court expressed a general
principle: “A successor trustee has a duty to proceed against the predecessor for any breach of
trust committed by the predecessor of which the successor has knowledge.” Id. Though the two
trustees in Rearden, predecessor and successor, occupied one office, the court did not prevent the
suit brought by the successor trustee against the predecessor. The court went so far as to say that
a successor has a “duty” to bring such a suit against a predecessor, notwithstanding the
perpetuity of the office itself. The successor filed a claim, asserting an injury to the office,
namely the “breach of trust committed by the predecessor.” Id. The court’s allowance of the
claim and the court’s silence as to any conflict in the successor proceeding with the suit both
suggest that an alleged injury against the office of trustee must not necessarily be asserted by the
same trustee that administered during the time of the alleged injury, and that a successor trustee
2
“[T]he agreement provided that . . . accountings would be delivered at least annually to Mrs. King [the testator]
and/or any designated agent. Furthermore, ‘upon the termination of the trust, the Trustees shall prepare a final
account and shall deliver the same to the Grantor's agents and to the Personal Representatives of the Grantor's
estate.’" Rearden v. Riggs Nat'l Bank, 677 A.2d 1032, 1034 (D.C. 1996).
5. 5
may assert a claim alleging injuries that occurred prior to the successor trustee’s present
administration of office.
6. Interchangeability of "Transfer" and "Convey"
A diligent exploration into case law will only confirm what is apparent on the surface; the
terms "convey" and "transfer" are interchangeable, if not virtually synonymous. Naturally,
Black’s Law Dictionary all but marries the two terms in both definition and scope:
1. Convey. To transfer or deliver to another. . . To transfer property or the title to property
by deed, bill of sale or instrument under seal.
2. Conveyance. [T]ransfer of title to land from one person, or class of persons, to another
by deed. Generally, every instrument in writing by which an estate or interest in the realty
is created.
BLACK’S, at 333 (emphasis added).
Black’s Law Dictionary’s definition for "transfer" unsurprisingly mirrors the definitions for
"convey”:
1. Transfer, v. To convey or remove from one place, person, etc., to another.
2. Transfer, n. An act of the parties, or of the law, by which the title to property is conveyed
from one person to another;
3. The assignment or conveyance of property, including an instrument or document, that
vests in the transferee such rights as the transferor had therein. . . . Transfer is the all-
encompassing term by the Uniform Commercial Code to describe the act which passes an
interest in an instrument to another.
BLACK’S, at 1497 (quoting in part U.C.C. §§ 3-201(1) and 7-504(1)) (emphases added).
6. 6
Therefore, through no strained inference, any ordinary construction of the word
"convey," as may be found in the sentence, "[A] trustee . . . can convey no property except by
virtue of the instrument," encompasses the meaning of a "transfer," and any ordinary
construction of the word "transfer" encompasses the meaning of a "conveyance." There is no
case law to suggest that the two terms have any meaningful legal distinction. This consistency in
meaning and scope holds true for describing the exchange of title between a predecessor trustee
and a successor trustee.
The privity in the exchange of title between a predecessor trustee and a successor trustee,
within the same office of trustee, is in fact often characterized as a transfer. See e.g. Leslie v.
Laprade, 726 A.2d 1228, 1231 (D.C. 1999) ("Privity is a functional concept entailing 'mutual or
successive relationships to the same right of property'. . . Such identification exists as to property
transferred in trust from one owner or trustee to a successor.”) (emphasis added).
Indeed, the same capability of "transfer" between a predecessor trustee and a successor
trustee is reflected in the language of the Restatement (Second) of Trusts, § 111: "An interest
held by a trustee as [a trustee] may be transferred by him to a successor trustee." (emphasis
added).
7. At Common-Law, Exchange of Title between Trustee and Successor Trustee Is Not
Necessarily a Transfer
Established, at this point, is that the exchange of title between trustee and successor
trustee can be characterized as a transfer. Indeed, the exchange is often characterized as such.
Important to note, however, is that common law does not require the exchange of title between a
predecessor trustee and a successor trustee to be characterized as a transfer. In other words,
7. 7
although common law does not recognize a legal distinction between a "transfer" and a
"conveyance" in exchanging legal title between a predecessor trustee and a successor trustee,
common law does allow for the avoidance of a transfer of title between an original trustee and a
successor trustee. This allowance in common law is reflected in § 110 of the Restatement
(Second) of Trusts.3
However, the last clause of § 110 conditions this allowed avoidance of a
"transfer"; either the terms of the trust itself or a statute must provide that the exchange of title
shall not be a transfer. If this condition is not met, then the law presumptively treats the exchange
of title as a transfer. RESTATEMENT § 110.
Comment (a) to § 110 expounds upon a permitted sequence where legal title successively
exchanges from an original predecessor trustee, to a person or court conferred with the power to
appoint a new trustee, and finally to a new trustee, in which title vests, but with neither
conveyance nor transfer. Id.
STATUTORY LAW
8. For Taxation Purposes, the D.C. Code Supersedes Common Law - All Ultimate
Vestments are Transfers
Nevertheless, with regard to the taxation of real property, sections 47-901 (9), (10), and
(11) of the D.C. Code offer expansive definitions of the terms "transfer," "transferor," and
"transferee," whereby an interest that ultimately will vest in a person is an interest that
necessarily transfers.4
Encompassed in each of the three definitions is an interest that either
3
"If a new trustee is appointed by the exercise of a power conferred by the terms of the trust, the title to the trust
property will vest in the new trustee without a transfer to him by the old trustee or other holder of the title to the
trust property, if it is so provided by the terms of the trust, or the court is empowered by statute or otherwise to vest
the title in the trustee so appointed and does so." RESTATEMENT § 110.
4
(9) The word “transfer” means the process whereby any real property in the District, or any interest therein, is
conveyed, vested, granted, bargained, sold, transferred, or assigned from 1 person to another. D.C. Code § 47-901
(emphasis added).
8. 8
"vests" or is "vested." Id. Therefore, with regard to the taxation of real property, the avoidance
of a "transfer" or a "conveyance" permissible under common law is not recognized in
Washington, D.C.
9. Tax Implications - Transfers from Trustees to Successor Trustees, Pursuant to One Trust
Instrument, Are Exempt from Taxation
In the District of Columbia, deeds are generally taxed (D.C. Code § 42-1103(a)(1)(A)),
and transfers are generally taxed (D.C. Code § 47-903(a)(1)). For deeds, a tax rate of 1.1% is
applied to the consideration for the deed,5
and a tax rate of 1.1% is applied to the consideration
paid for each transfer.6
The same sections, however, provide that the tax rate of 1.1% shall be
applied only to the fair market value of the real property covered by the interest transferred,
where there is no consideration for a transfer. Id.
10. Exchanges of Legal Title between Trustee and Successor Trustee, although "Transfers,"
Are Without Consideration and Are Therefore Exempt from Taxation
(10) The word “transferor” means the person who conveys, vests, grants, bargains, sells, transfers, or assigns any
real property or any interest therein in the District, or causes the same through his or her authorized agent. Id.
(emphasis added).
(11) The word “transferee” means the person to whom any real property in the District, or any interest therein, is
conveyed, vested, granted, bargained, sold, transferred, or assigned. Id. (emphasis added).
5
A deed that conveys title to real property in the District shall be taxed at a rate of 1.1% . . . due at time of
recording. . . applied to the consideration for the deed; provided, that if there is no consideration for a transfer . . .,
the rate shall be applied to the fair market value of the real property, as determined by the Mayor. D.C. Code § 42-
1103(a)(1)(A).
6
There is imposed . . . for each transfer at the time the deed is submitted to the Mayor for recordation a tax at a rate
of 1.1% of the consideration paid for the transfer; provided that . . . [i]f there is no consideration for a transfer . . .,
the rate shall be applied to the fair market value of the real property covered by the interest transferred as determined
by the Mayor. D.C. Code § 47-903(a)(1)(B).
9. 9
Trust law has long established that, through the formation of a trust, a trustee receives
only legal title to property. This mere legal title is otherwise known as "bare" legal title or
"naked" title, which, under any name, is described in the following way:
"Courts of equity have from time immemorial recognized that the estate of the trustee is a
naked legal title without any beneficial interest whatever, further than the compensation
provided for the execution of the trust, consideration of which is not allowed to enter into the
question of the extent of the estate conveyed . . ."
Wright v. Pitts, 66 F.2d 197, 200 (D.C. 1933) (emphases added).
Restated, the creation and execution of a deed of trust results in the conveyance of an
entire trust estate, though the conveyance is composed of two distinct legal and equitable
interests. To the extent that the conveyance is a transfer of legal title, the title transfers to the
trustee with no “price or amount actually paid,” even though the entire conveyance has a
complementary equitable component. D.C. Code § 47-901(5).The equitable component of the
conveyance alone measures the valuable consideration for the entire estate conveyed, and the
applicable tax – imposed “on the fair market value of the real property covered by the interest
transferred” (D.C. § 47-903(a)(1)(B) – covers the equitable interest transferred. This bifurcation
aptly illustrates why the trustee’s interest is indeed recognized by law as a “naked legal title.”
Wright, at 200. Consequently, to the extent that any subsequent conveyance of the trust estate
from a predecessor trustee to a successor trustee necessarily involves the transfer of legal title,
there is no “price or amount actually paid” for the transfer of that legal title, and any tax imposed
would similarly be applied only to the underlying equitable interest – the “fair market value” –
transferred alongside that legal title.
Notwithstanding the generally applicable tax imposed on transfers, the D.C. Code
exempts from taxation those transfers which “without additional consideration, confirm, correct,
modify, or supplement a transfer previously recorded.” D.C. Code § 47-902(8) (emphasis added).
10. 10
Therefore, if legal title ultimately transfers – without consideration, as explicated above – to a
successor trustee pursuant to a single trust instrument, then that transfer is “supplemental” in
accordance to the definition provided under § 42-1101(15),7
triggering the exemption provided
under § 47-902(8).
Conclusion
Common law establishes that an exchange of legal title, pursuant to one trust instrument,
between a predecessor trustee and a successor trustee, can be a "transfer" of legal title. Common
law, however, allows for the avoidance of such a label, provided that either the terms of the trust
or an applicable statute circumvent the label. Additionally, common law allows for a successor
trustee to sufficiently state a claim for injuries that occurred before the successor trustee acquired
legal title to the estate. Regarding the transfer of title from predecessor trustee to a successor
trustee, the D.C. Code, with regard to the taxation of real property, supersedes common law and
necessarily renders such an exchange of title as a transfer. Still, however, pursuant to the same
D.C. Code, the transfer of legal title between a trustee and a successor trustee is exempt from
taxation because, pursuant to a single trust instrument recorded prior to the exchange between
trustees, such a transfer is supplemental.
7
“The phrase “supplemental deed” means a deed that confirms, corrects, modifies, or supplements a prior recorded
deed without additional consideration.” D.C. Code § 42-1101(15).