Login

Login

To access this feature, please Log In or Register for your Casebriefs Account.

Add to Library

Add

Search

Login
Register
Register

Shay v. Penrose

Law Dictionary
CASE BRIEFS

Law Dictionary

Featuring Black's Law Dictionary 2nd Ed.
AA
Font size

Property Law Keyed to Cribbet

View this case and other resources at:
Bloomberg Law

Citation. 22 Ill.25 Ill. 2d 447, 185 N.E.2d 218 (1962)

Brief Fact Summary. Mrs. Shay was in the process of selling four tracts of land under installment contracts when she died intestate and an action for partition was taken. The trial court denied partition based on the doctrine of equitable conversion. An appeal was taken.

Synopsis of Rule of Law. When the owner of land enters into a valid and enforceable contract for its sale he continues to hold the legal title, but in trust for the buyer. The buyer becomes the equitable owner and holds the purchase money in trust for the seller/ owner.


Facts. Mrs. Shay was in the process of selling four tracts of land under installment contracts when she died intestate, and her husband and other heirs instituted an action for partition of the parcels based on their succession to Mrs. Shay’s interests. The trial court denied partition based on the doctrine of equitable conversion. An appeal was taken.

Issue. What interest, if any, do the successors of Mrs. Shay have in the property, which was sold under an installment contract?

Create New Group

Casebriefs is concerned with your security, please complete the following