Fatjo v. Swasey

Holding

The court held that the testamentary trust created by the will of L. H. Bascom was valid and that the probate court possessed the inherent equitable power to remove the original trustees and appoint a successor trustee, who would inherit all the discretionary powers granted to the original fiduciaries. It further held that the beneficiary of the trust, Henrianna B. Swasey, held no present, vested, or transferable interest in the real property of the trust estate; consequently, a mortgage she executed on the property was void and created no enforceable lien against the trustee’s title.