Majority
p. 623Gustavus W. Raynolds et al., Appellants, v. Browning, King & Company, Respondent, and Mary K. Stevens et al., Appellants. (Argued June 9, 1927; decided July 20, 1927.)
Headnote
Trust — lease — provision in will creating trust authorizing trustee to lease land for term extending beyond duration of trust — lease by trustee with provision for renewal — declaratory judgment that lessee is entitled, to renewal by remaindermen.Raynolds v. Browning, King & Co., 217 App. Div. 443 , affirmed.
Appeal, by permission, from a judgment of the Appellate Division of the Supreme Court in the first judicial department, entered July 20, 1926, unanimously affirming a judgment entered upon a decision of the court on trial at Special Term in an action upon a lease made by a testamentary trustee to obtain a declaratory judgment as to whether the tenant is entitled to a renewal by the remaindermen after termination of the trust. By the will the trustee was authorized to lease the property “ for a term extending beyond the duration of said trust,” In pursuance to such power he leased the premises to defendant Browning, King & Company for a term of twenty-one years with a right to a renewal for a further term of twenty-one years.
p. 624
Thomas M. Healy for plaintiffs, appellants.
Jabish Holmes for Kate S. Stevens et al., defendants, appellants.
Levi S. Hulse for Nicholas Hidden, defendant, appellant.
Henry D. Merchant and Abel Merchant, Jr., for Henrietta G. Cattapani, defendant, appellant.
Harold Swain and Arthur H. Indell for Title Guarantee and Trust Company, as committee.
Charles P. Northrop and Clarence E. Thornall for respondent.
Judgment affirmed, with costs; no opinion.
Concur: Cardozo, Ch. J., Pound, Crane, Andrews, Lehman, Kellogg and O’Brien, JJ.