New York Court of Appeals
In the Matter of the Accounting of Guaranty Trust Company of New York, as Substituted Trustee of the Will of Elmer…
January 12, 1956309 N.Y. 487
Summary
The New York Court of Appeals held that a testamentary trustee is not entitled to the additional 6% commission under subdivision 7 of section 285-a of the Surrogate's Court Act where the trustee merely collects rent under a net lease and performs no management services. The court also declined to follow Matter of Brennan, finding its statutory language and factual context different.