Citation Numbers: 41 N.Y.S. 224, 25 N.Y. Civ. Proc. R. 380
Judges: Lawrence
Filed Date: 4/15/1896
Status: Precedential
Modified Date: 1/13/2023
This is a motion made by a receiver appointed in supplementary proceedings for instructions, and for an order allowing him to sell personal and real property alleged to have been discovered in the course of said supplementary proceedings belonging to the judgment debtor. The personal property consists of a Royal bicycle and certain equipments connected therewith, and a gold watch which was owned by said judgment debtor on the 10th day of December, 1895. The receiver states that he is informed and believed that more cash will be received for the above articles if sold at private sale than if put up at public auction, with all the necessary incidental expenses of advertising, auctioneer’s fees, etc. I see no objection to making the order in regard to the personal property. In respect to the real property alleged to have been discovered during the course of the supplementary proceedings, a more difficult question arises. An examination of the judgment debtor discloses that on the 10th day of December, 1895 (the date when the order for the examination was served), the defendant was interested in certain real property, under the sixth clause of the will of his father. The said will, in substance, provides that all the property of the testator is given to executors and trustees in trust, to hold the same for the benefit of the widow and children of the testator, and to pay over the income to them until the youngest shall die or arrive at the age of 25 years, and that, • upon the happening of either event, the executors are directed to set apart sufficient of the residuary estate to produce to the widow an income of $5,000 per annum, and to divide the remainder of the said residuary estate among his surviving children or their issue, the income of two of such parts to be paid to his two daughters during their natural lives, and that such executors pay or transfer one of such parts to each of his three sons, among whom is the judgment debtor. The real estate thus referred to in the will of the testator’s father is situated at numbers 1, 3, 5, and 7 William street, in the city of New York, and it appears that said property had not been sold at the time of the service of the order for the examination
Draw an order in accordance with these views, and settle on one day’s notice.