Bankr. No.:
86-30044
Chapter:
12
Date of Decision:
April 11, 1988
Issue:
(1) B.R. 9023 - Motion for reconsideration concerning relief from stay. (2) SDCL 53-3-8; SDCL 55-4-3 Power of co-trustees of express trust - - under South Dakota law does a sole trustee acting alone have the authority to modify the terms of a contract for deed held by a Trust?
Ruling:
(1) Federal Rule of Civil Procedure, 59(b). Court declined to vacate the order. (2) G. Bogart, The Law of Trusts and Trustees, Section 554 (Rev. 2nd ed. 1980 - Court ruled sole trustee did not have authority to modify the terms of the contract for deed held by the Trust.
Full Bankruptcy Court Decision: