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351-year-old will sparks bitter dispute in Mass.
AP ^ | Feb 24, 2012 | RODRIQUE NGOWI

Posted on 02/25/2012 12:31:00 PM PST by newzjunkey

BOSTON (AP) — With only eight days to live, a wealthy, ailing Massachusetts merchant wrote in his will 351 years ago that he was leaving a spectacular 35-acre seafront property for the benefit of public school children, decreeing the land should never be sold or wasted.

The dying wish of William Payne, one of the state's earliest settlers, created the nation's oldest charitable trust and eventually led tenants to build 167 cottages — most of them used by summer vacationers — on the land he left for the seaside city of Ipswich. The rent money has generated some $2.4 million to help fund public schools over the last 25 years.

Now, the trustees want to tear up the will, convert the property into condominiums and sell them to the tenants to settle a 2006 lawsuit filed by the tenants over rent increases. But hundreds of Ipswich residents have gone to court to block the settlement, saying it violates the sacred intent of Payne's will and shortchanges the schools...

(Excerpt) Read more at news.yahoo.com ...


TOPICS: Crime/Corruption; Culture/Society; Government; US: Massachusetts
KEYWORDS: charitabletrusts; courts; propertyrights; trusts; ushistory; williampayne; wills
Someone's looking for a payday and William Payne's will be damned. I don't have much faith in the court doing the right thing here.
1 posted on 02/25/2012 12:31:09 PM PST by newzjunkey
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To: newzjunkey

[shrug] The will is a living document. If you read the penumbra, I’m pretty sure it mentions condominiums.


2 posted on 02/25/2012 12:41:21 PM PST by ClearCase_guy ("And the public gets what the public wants" -- The Jam)
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To: newzjunkey

We truly are in that hand basket to hell.


3 posted on 02/25/2012 12:44:59 PM PST by NoGrayZone (Jim "Firebrand" Robinson endorses Newt...with EPIC call to action!!)
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To: newzjunkey

Whether will Will’s will be willed?

Say that fast, 57 times for each state.


4 posted on 02/25/2012 12:45:53 PM PST by F15Eagle (1 John 5:4-5, 4:15, 5:13; John 3:17-18, 6:69, 11:25, 14:6, 20:31; Rom10:8-11; 1 Tim 2:5; Titus 3:4-5)
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To: newzjunkey

The school will make more money off the condo property taxes than they’re getting in rent. Legally a will only specifies who gets what, not what they can do with it.


5 posted on 02/25/2012 12:49:21 PM PST by Reeses
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To: Reeses

Unless of course the property is transferred to nonprofits, in which case there will be no property tax.


6 posted on 02/25/2012 1:01:07 PM PST by MSF BU
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To: Reeses
Wasn't it, in effect, bequeathed to the Commonwealth— I mean the people not the government?
7 posted on 02/25/2012 1:03:24 PM PST by RobbyS (Christus rex.)
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To: newzjunkey
Somewhere “scrupulous” lawyers will find a case for eminent domain.
8 posted on 02/25/2012 2:03:51 PM PST by Noob1999 (Loose Lips, Sink Ships)
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To: newzjunkey
As soon as I saw Martha Coakley's name I realized that this is just one more Pomegranate* scheme to defraud land from its rightful owners.

* Pomegranate: red on the outside, gold on the inside, the perfect grasping, lying, communist hiding as a "Liberal"

9 posted on 02/25/2012 2:15:21 PM PST by pabianice (")
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To: newzjunkey

Unbridled and selfish greed; it could - and in this case, will - screw up a wet dreeam.


10 posted on 02/25/2012 2:57:41 PM PST by Jack Hammer
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To: newzjunkey

The article is slanted to the tenants. The tenants, some of whom are trustees, have been paying below market rents for years, with little money going to the schools. This settlement would produce a lot more for the schools.


11 posted on 02/25/2012 3:33:13 PM PST by colorado tanker
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