Monuments and fences. and a just proportion of extraordinary assessments benefiting the whole inheritance.1 'Sarles v. Sarles, 3 Sandf. Ch., 601, 607. $273. Coterminous owners are mutually' bound equally to maintain : 1. The boundaries and monuments between them; 2. The fences between them; unless one of them chooses to let his land lie open as a public common, in which case, if he afterwards incloses it, he must refund to the other a just proportion of the value, at that time, of any division fence made by the latter." They owe this duty only to each other, and not to the public generally (Ryan v. Rochester & Syracuse R. R., 9 How. Pr., 453). 1 1 R. S., 353, §§ 30, 31, as amended; Laws 1860, ch. 267. The mode of determining controversies as to fences is prescribed by the POLITICAL CODE. TITLE IV. USES AND TRUSTS. The provisions of this title are from 1 R. S., 727; modified only as to the form of expression, except where otherwise noted. Sections 66, 69, 70, 71 and 72 are inserted in the title on TRUSTS in the Third Division of this Code. Section 67 is transferred to the title on SUCCESSION. SECTION 274. What uses and trusts may exist. 275. Executed uses existing. 276. Right to possession of land creates legal ownership. 277. Certain trusts unaffected. 278. Trustees of estate for use of another take no interest. 279. Preceding sections qualified. 280. Trust must be in writing. 281. Transfer to one for money paid by another. 282. Rights of creditors. SECTION 283. Section 281 qualified. 284. Purchasers protected. 285. For what purposes express trusts may be created. 293. Title of grantor of trust property. 294. Interests remaining in grantor of express trust. 298. Certain sales, &c., by trustees, void. What uses $274. Uses and trusts, in relation to real property and trusts are those only which are specified in this Title. 1 R. S., 727, § 45. The commissioners have not con- may exist. uses exist $275. Every estate which is now held as a use, Executed executed under any former statute of this state, is ing. confirmed as a legal estate. 1 R. S. 727, § 46. $276. Every person who, by virtue of any transfer or devise, is entitled to the actual possession of real property, and the receipt of the rents and profits thereof, is to be deemed to have a legal estate therein,' of the same quality and duration, and subject to the same conditions,' as his beneficial interest. Right to of land possession creates legal own. ership. trusts unaf $277. The last section does not divest the estate Certain of any trustees in a trust existing on the first day of fected. January, one thousand eight hundred and thirty, where the title of such trustee is not merely nominal,' but is connected with some power of actual dis Trustees of estate for use of another take no interest. Preceding sections qualified. Trust to be in writing. Transfer to one for by another. position or management in relation to the real pro perty which is the subject of the trust. 1 R. S., 727, § 48. 'Frazer v. Western, 1 Barb. Ch., 238, 239. S278. Every disposition of real property, whether by transfer or will, must be made directly to the person in whom the right to the possession and profits1 is intended to be vested, and not to any other, to the use of or in trust for such person; and if made to any person, to the use of or in trust for another, no estate or interest vests in the trustee; but he must execute a release of the property to the beneficiary on demand, the latter paying the expense thereof.3 1 R. S., 728, § 49. 'Hotchkiss v. Elting, 36 Barb., 44. 2 'Ring v. McCoun, 10 N. Y., 268; Rawson v. Lampman, 5 N. Y., 456, 462; Wright v. Douglass, 7 N. Y., 564. 3 This provision is new, and contrary to the existing law (Ring v. McCoun, 10 N. Y., 268); but seems desirable to avoid difficulties in titles (see South Baptist Church v. Yates, Hoffm., 142). $279. The preceding sections of this Title do not extend to trusts arising or resulting by implication of law, nor prevent or affect the creation of such express trusts as are hereinafter authorized and defined. 1 R. S., 728, § 50. $280. No trust in relation to real property is valid, unless created or declared : 1. By a written instrument, subscribed by the trustee, or by his agent thereto authorized by writing; 2. By the instrument under which the trustee claims the estate affected; or, 3. By operation of law. Enlarged from 2 R. S., 134, § 6. $281. Where a transfer of real property is made money paid to one person, and the consideration therefor is paid by or for another, no use or trust results in favor of the person by or for whom such payment is made; but the title vests in the grantee, subject only to the provisions of the next two sections.2 The words " or for 1 R. S., 728, § 51; Davis v. Graves, 29 Barb., 480. creditors. $282. Every such transfer as is described in the Rights of last section is presumed to be fraudulent as against the creditors, at that time,' of the person paying the consideration; and where a fraudulent intent is not disproved, a trust results in favor of such creditors,3 to the extent necessary to satisfy their just demands. 1 R. S., 728, § 52. 1 Wood v. Robinson, 22 N. Y., 564, 566. 2 Brewster v. Power, 10 Paige, 568, 570. Garfield v. Hatmaker, 15 N. Y., 475; Wood v. Robin- $283. Section 281 does not apply: 1. To cases where the grantee took the grant as an absolute' transfer in his own name, without the consent or knowledge of the person paying the consideration; nor, 2. To cases where the grantee, in violation of a trust, purchased the real property so transferred, with property belonging to another person.3 1 R. S., 728, § 53. 1 Lounsbury v. Purdy, 18 N. Y., 517. 2 Id., 518, 519. 3 Reid v. Fitch, 11 Barb., 399. Section 281 qualified. protected. $284. No implied or resulting trust can prejudice Purchasers the rights of a purchaser or incumbrancer of real property, for value' and without notice of the trust. 1 R. S., 728, § 54. 'Wood v. Robinson, 22 N. Y., 564, 567. 2 Sieman v. Austin, 33 Barb., 14. $285. Express trusts may be created for any of the For what following purposes: 1. To sell' real property for the benefit of creditors; purposes express trusts may be created. 2. To sell, mortgage or lease real property, for the benefit of annuitants or other legatees, or for the purpose of satisfying any charge thereon; 3. To receive the rents and profits of real property, and pay them to3 or apply them to the use of any person, whether ascertained at the time of the crea tion of the trust or not, for himself or for his family' during the life of such person, or for any shorter term, subject to the rules of Title II of this Part;" or, 4. To receive the rents and profits of real property, and to accumulate the same for the purposes and within the limits prescribed by the same Title. 1 R. S., 728, § 55. 1 Rogers v. Tilley, 20 Barb., 641, 642; Darling v. Rogers, 22 Wend., 483; Van Nest v. Yoe, 1 Sandf. Ch., 4, Planck v. Schermerhorn, 3 Barb. Ch., 644. The words "annuitants or other" are new, but supported by Lang v. Ropke, 5 Sandf., 371; Hawley v. James, 16 Wend., 61, 117. The words "pay them to, or" are new, but supported by Leggett v. Perkins, 2 N. Y., 297, 306, 309; Leggett v. Hunter, 19 N. Y., 454; Noyes v. Blakeman, 6 N. Y., 581. The words "whether ascertained at the time of the trust or not" are new, but conform to Gilman v. Reddington, 24 N. Y., 13, 14. The words "for himself or for his family" are new, but are sustained by Rogers v. Tilley, 20 Barb., 639, 641. Though a trust for the minority of the beneficiary is valid (Lang v. Ropke, 5 Sandf., 369), it is so upon the ground that it terminates at his death, even while yet a minor (id.; Hawley v. James, 16 Wend., 61; 5 Paige, 463). 7 Downing v. Marshall, 23 N. Y., 377. * Gilman v. Reddington, 24 N. Y., 12; 1 Hilt., 492. 9 O Coster v. Lorillard, 14 Wend., 318; Hawley v. James, 16 id., 174, 265. Certain de vises in trust to be deemed powers. $286. A devise' of real property to executors or other trustees, to be sold or mortgaged, where the trustees are not also empowered to receive the rents |