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In re James Anderson and Dorothy Anderson

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: