Ex parte Guaranty Bank & Trust Co., No. 19115

CourtUnited States State Supreme Court of South Carolina
Writing for the CourtLITTLEJOHN; MOSS
Citation177 S.E.2d 358,255 S.C. 106
PartiesEx parte GUARANTY BANK & TRUST COMPANY, Respondent. In re Joanne Byrd MATHERS, Reddin Byrd, and Thomas Edward Byrd, v. R. P. BYRD, Jr., Mrs. R. P. Byrd, Claude V. Brown, Trustee of the George S.Byrd Lands, Epworth Orphanage, John E. Lunn, Edward L. Young, Guaranty Bank& Trust Company, Trustee, Dusenbury, Dusenbury & McKenzie Legal Enterprises,Inc., George S.Byrd, Mrs. George S. Byrd, Florence County Industrial Loan & DevelopmentCommission, John Doe and Mary Roe as Unknown, Unborn and Incompetent ContingentUnknown Remaindermen, of Whom John Doe and Mary Roe as Unknown, Unborn andIncompetent ContingentUnknown Remaindermen Are, Appellants.
Decision Date29 October 1970
Docket NumberNo. 19115

Page 358

177 S.E.2d 358
255 S.C. 106
Ex parte GUARANTY BANK & TRUST COMPANY, Respondent.
In re Joanne Byrd MATHERS, Reddin Byrd, and Thomas Edward Byrd,
v.
R. P. BYRD, Jr., Mrs. R. P. Byrd, Claude V. Brown, Trustee
of the George S.Byrd Lands, Epworth Orphanage, John E. Lunn,
Edward L. Young, Guaranty Bank& Trust Company, Trustee,
Dusenbury, Dusenbury & McKenzie Legal Enterprises,Inc.,
George S.Byrd, Mrs. George S. Byrd, Florence County
Industrial Loan & DevelopmentCommission, John Doe and Mary
Roe as Unknown, Unborn and Incompetent ContingentUnknown
Remaindermen, of Whom John Doe and Mary Roe as Unknown,
Unborn andIncompetent ContingentUnknown Remaindermen Are, Appellants.
No. 19115.
Supreme Court of South Carolina.
Oct. 29, 1970.

[255 S.C. 107] John L. McGowan, Florence, for appellants.

[255 S.C. 108] E. N. Zeigler, Florence, for respondent.

Page 359

LITTLEJOHN, Justice:

The Honorable G. Badger Baker, as Judge of the Court of Common Pleas, issued his order authorizing Guaranty Bank & Trust Company, as substitute trustee of the Estate of R. P. Byrd, Sr., to deviate from the terms of the trust established by his will in 1928, and to sell by fee simple deed 124.485 acres of land to the Florence County Industrial Loan & Development Commission as agent for an undisclosed principal. The unborn contingent remaindermen, by their Guardian ad Litem, appeal.

R. P. Byrd, Sr. executed his will in 1928 and died within the year owning several hundred acres of farm land in Florence County. By the terms of his will he created a trust estate. The relevant terms of the trust and duties of the trustee were and follows:

'Item 3: I hereby direct the said trustees to hold the said estate hereinabove stipulated for the sole benefit of the beneficiaries to lease or rent the arable lands contained in the said premises and after the payment of the usual taxes the proceeds[255 S.C. 109] derived therefrom be paid annually to the said beneficiaries; provided, however, that should the said beneficiaries or either of them, desire to use and occupy the premises, so provided for them, individually, they shall have the right to cultivate the whole or any part of the same at their option, and to use the proceeds derived therefrom for their individual uses; in the meantime, I request the said trustees to keep an eye to the interest of the said beneficiaries and to advise and admonish them in such way as would be for their individual benefit and benefit of the said premises, which I urge shall be kept in a good state of cultivation. It is distinctly understood, that the trust herein provided shall be a permanent one, that is to say: to hold under said trust the said premises for and during the term of the natural life of the said beneficiaries, George S. Byrd and R. P. Byrd, Jr., and should either of my sons predecease the other, then, and in such event, the title to the property provided for my said son, George S. Byrd, under the trust (should be without wife or issue, predecease my son, R. P. Byrd, Jr.) shall vest in my said son, R. P. Byrd, Jr., and should my said son R. P. Byrd, Jr., without wife or issue predecease my son, George S. Byrd, then the provision of the trust provided for R. P. Byrd, Jr., shall vest in the said George S. Byrd.

'Should the said beneficiaries of either of them die leaving an wife and a child or children then the title to the property hereinabove provided for them shall vest in fee simple in his or their heirs, provided, however, that should the wife of either, or both of said beneficiaries die leaving no issue, child or children on my said son or sons, then the wife or wives of either of the said beneficiaries to be vested with only a life estate in the property hereinabove provided for my said sons, respectively, with remainder over, after their death to the Official Board of Epworth Orphanage, an institution of the Methodist Church, located at Columbia, S.C., to have and to hold the same in fee simple for the benefit of the said institution.'

[255 S.C. 110] Facts of interest, but not necessary to a determination of the issues before us, are recited in the opinion of this court in Byrd v. King, 245 S.C. 247, 140 S.E.2d 158 (1965). From a reading of this case it would appear obvious that the property involved in this action has not been very productive.

The land now becomes highly desirable and valuable as commercial and industrial property because newly-constructed interstate highways I--20 and I--95 intersect on the premises. As a result the trustee secured permission of the court on April 30, 1970 to employ an expert to prepare an overall land use development plan. Interested parties participated in that proceeding and there was no appeal from the judge's order directing the...

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10 practice notes
  • In re Joint E. & S. Dist. Asbestos Litigation, Index No. 4000
    • United States
    • United States District Courts. 2nd Circuit. United States District Court (Eastern District of New York)
    • 19 Enero 1995
    ...(1943) (permits invasion of trust principal to pay for repairs and improvements to trust property); Ex Parte Guaranty Bank and Trust Co., 255 S.C. 106, 177 S.E.2d 358, 361-62 (1970) (permits sale of property in contravention of trust terms where nearby commercial development rendered contin......
  • Colin McK. Grant Home v. Medlock, No. 0804
    • United States
    • Court of Appeals of South Carolina
    • 19 Mayo 1986
    ...unless they are without any evidentiary support or against the preponderance of the evidence. Ex parte Guaranty Bank and Trust Co., 255 S.C. 106, 177 S.E.2d 358 (1970). The record in this case amply supports the findings of the master and the circuit court The heirs stress the portion of bo......
  • Wilson v. Landstrom, No. 0135
    • United States
    • Court of Appeals of South Carolina
    • 19 Octubre 1983
    ...267] We are bound by that finding given the lack of clear evidence in the record to the contrary. Ex parte Guaranty Bank and Trust Co., 255 S.C. 106, 177 S.E.2d 358 Furthermore, it is difficult to see how Landstrom has been prejudiced. The record reveals that Chester Street Associates have ......
  • Edwards v. Rouse, No. 0820
    • United States
    • Court of Appeals of South Carolina
    • 15 Septiembre 1986
    ...on appeal unless it is without evidentiary support or against the clear preponderance of the evidence. Ex parte Guaranty Bank & Trust Co., 255 S.C. 106, 177 S.E.2d 358 (1970). In this case both the master and circuit judge found Mr. Vanderhorst's conduct following the April 18 letter confir......
  • Request a trial to view additional results
10 cases
  • In re Joint E. & S. Dist. Asbestos Litigation, Index No. 4000
    • United States
    • United States District Courts. 2nd Circuit. United States District Court (Eastern District of New York)
    • 19 Enero 1995
    ...(1943) (permits invasion of trust principal to pay for repairs and improvements to trust property); Ex Parte Guaranty Bank and Trust Co., 255 S.C. 106, 177 S.E.2d 358, 361-62 (1970) (permits sale of property in contravention of trust terms where nearby commercial development rendered contin......
  • Colin McK. Grant Home v. Medlock, No. 0804
    • United States
    • Court of Appeals of South Carolina
    • 19 Mayo 1986
    ...unless they are without any evidentiary support or against the preponderance of the evidence. Ex parte Guaranty Bank and Trust Co., 255 S.C. 106, 177 S.E.2d 358 (1970). The record in this case amply supports the findings of the master and the circuit court The heirs stress the portion of bo......
  • Wilson v. Landstrom, No. 0135
    • United States
    • Court of Appeals of South Carolina
    • 19 Octubre 1983
    ...267] We are bound by that finding given the lack of clear evidence in the record to the contrary. Ex parte Guaranty Bank and Trust Co., 255 S.C. 106, 177 S.E.2d 358 Furthermore, it is difficult to see how Landstrom has been prejudiced. The record reveals that Chester Street Associates have ......
  • Edwards v. Rouse, No. 0820
    • United States
    • Court of Appeals of South Carolina
    • 15 Septiembre 1986
    ...on appeal unless it is without evidentiary support or against the clear preponderance of the evidence. Ex parte Guaranty Bank & Trust Co., 255 S.C. 106, 177 S.E.2d 358 (1970). In this case both the master and circuit judge found Mr. Vanderhorst's conduct following the April 18 letter confir......
  • Request a trial to view additional results

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