Root v. Wood, (1945)
Court: Supreme Court of Florida
Number:
Visitors: 3
Judges: TERRELL, J.:
Attorneys: Jennings Watts, Olin E. Watts and Ralph M. Ketcham, for appellant.
Keen Allen, Walton, Hubbard, Lantaff, Atkins Carson and C. Clyde Atkins, for appellee.
Filed: Jan. 26, 1945
Latest Update: Mar. 02, 2020
Summary: Prior to 1938, First Trust and Savings Bank as trustee for W.R. Root and others, was the owner of 1000 shares of stock being all the capital stock of Orlando Investment Company, a holding company owning stock in other subsidiaries and associated companies. None of this stock had been sold or listed on the stock exchange and none of it could be sold under the terms of the trust until after the death of two of the three beneficiaries. In the years 1938, 1939, and 1941, the trustee made return of t
Summary: Prior to 1938, First Trust and Savings Bank as trustee for W.R. Root and others, was the owner of 1000 shares of stock being all the capital stock of Orlando Investment Company, a holding company owning stock in other subsidiaries and associated companies. None of this stock had been sold or listed on the stock exchange and none of it could be sold under the terms of the trust until after the death of two of the three beneficiaries. In the years 1938, 1939, and 1941, the trustee made return of th..
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I concur in part and dissent in part. I agree with the conclusion that no fraud was established but I cannot agree that under the taxing statutes, as applied to the facts of the case, any legal authority now exists for back assessing the properties involved in the suit.
BROWN and THOMAS, JJ., concur.
Source: CourtListener
