DISPOSAL OF ESTATE.

New Zealand Herald, Volume LXVIII, Issue 20979, 16 September 1931, Page 12

DISPOSAL OF ESTATE.

FAMILY IN AGREEMENT. SALE APPROVED BY COURT,, [FROM OUR OWN CORRESPONDENT.] HAMILTON, Tuesday. Hie disposal of the estate of the lute Mr. Campbell Johnstone, of Whatawhata, who died last October, came up for consideration before Mr. Justice Smith in (lie Hamilton Supreme Court. Approval was sought of the sale of tlie land, and the live and dead stock in the estate. The application was made by Airs. Clementina Johnstone, widow of deceased, and .Mr Walter Seavill, the two trustees, for whom Mr. E. V. Stace appeared. Mr. N. S. Johnston represented the adult beneficiaries, and Mr. F. A. dc la Mare represented 1 von aid Lindsay Johnstune and Joyce Campbell Johnstone, two of tlie children. The application first came before the Court last April, when Mr. Stace said the late .Mr. Johnstone left an estate valued at £26,000. Mrs. Johnstone was not mentioned in the will, because she had private means. All the members of the family were acting in perfect harmony, and there was 110 dispute whatever as to the disposal of the property. An arrangement had been made whereby the land and stock should be taken over by Mrs. Johnstone and three of the sons, Jlallyburton Johnstone, Frederick Campbell Johnstone, and a minor, Ronald Lindsay Johnstone. The purchase price of the, lease of the land was to be at the Government valuation at the time of the death of deceased. The agreement also provided that the four persons named .should take over the live and dead stoik at a value fixed by a competent valuer as at the date of death. Counsel agreed that the arrangement was satisfactory to all the parties. It was pointed out that (he parties recognised that prices had fallen since last October. Mr. Justice Smith adjourned the application until one of the minors concerned, Ronald Lindsay Johnstone, should come of ago, His Honor Stating that the Court could not sanction a sale to a minor that was not to his benefit. When the application came befofe the Court again yesterday, Mr. Stace stated that Ronald Lindsay Johnstone, bad attained his majority and was in agreement with the other members of the family regarding the sale. Mr. de la Mare said that the interests of the other minor, Joyce Campbell Johnstone, were adequately safeguarded. An order approving of the arrangement made by nil concerned was then granted.