Abstract
What is the effect of an absolute devise of "proceeds" or "income" of the corpus of an estate where, under a general devise, words clearly importing the creation of a fee simple estate as to the corpus are lacking and there is no express or implied power of sale? More particularly we shall consider the above in the following circumstances:(1) When in the will there is contained an absolute gift of "proceeds" of the corpus; (2) A gift of "proceeds" of the corpus followed by limitation upon the corpus; and (3) Where under a bequest of "proceeds" along with creation of a testamentary trust and limitations over upon corpus of the estate.
Recommended Citation
Phillip H. Marshall, Effects of Sole Gift of Proceeds with No Disposition of Corpus, 5 Clev.-Marshall L. Rev. 69 (1956)