Mosher v. Van Buskirk

144 A. 446 (1929)

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Mosher v. Van Buskirk

New Jersey Court of Chancery
144 A. 446 (1929)

SC

Facts

William Mosher died intestate. Mosher’s three tracts of land passed to his heirs-at-law, his adult children and two infant grandchildren. One of the adult heirs filed a partition petition. The adult heirs agreed that Elizabeth Van Buskirk (defendant), one of the heirs, would purchase the property at the partition sale, hold it in trust for the adult heirs, and resell it at a better price through a private sale. The adult heirs’ goal was to exclude the infant grandchildren from an interest in the property. Van Burskirk purchased the property according to the plan for $5,000. Van Buskirk then sold two of the three tracts to the Herbert Investment Company (defendant) for $15,000. Herbert then sold its contract for $20,000. One of the adult heirs (plaintiff) had second thoughts about the plan and filed suit seeking a constructive trust in favor of all of the heirs, including the infant grandchildren. Herbert filed a counterclaim seeking to enforce its purchase contract.

Rule of Law

Issue

Holding and Reasoning (Backes, J.)

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