¶1The damages received from the rail-road corporation are not income within the meaning of the will which constituted the defendant a trustee, and prescribed his duties. The easement acquired by the corporation is substantially a de^ *76straction of the estate, although a naked fee therein remains to the trustee or cestui que trusts. The money received as damages "s to be regarded as capital substituted, by act of law, in the place of the land taken ; and the income thereof is to be distributed, as the income of the land would have been, if no easement had been created therein. Emerson v. Cutler, 14 Pick. 118.
42 Mass. 75
Gibson v. Cooke
Massachusetts Supreme Judicial Court
Decided March 15, 1840
Massachusetts Supreme Judicial Court · decided 1840-03-15
Bill in equity, praying that the defendant may be compelled to pay to the plaintiff his distributive share of money received by the defendant of the Boston and Worcester Rail-road Corporation, for damages awarded by reason of their having taken to their use certain real estate, the income of which was devised, by Susan Gibson, to the plaintiff and others.
Cited by 1 later decisions — most recently October 2011
1 district ·
Good law ✅— No negative treatment on recordhow we know
Decided 1840-03-15
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