Massachusetts Lawyers Weekly Quotes Atty. Eric D. Correira

Massachusetts Lawyers Weekly recently quoted Atty. Eric D. Correira regarding a case where the trustees of a family trust breached an agreement to use the proceeds from the sale of Massachusetts real estate owned by the trust to pay an outstanding New Hampshire judgment for unpaid guardianship fees. In Ransmeier & Spellman Professional Corporation, et al. v. The Elm Street Terrace Family Trust, et al., the plaintiffs agreed to provide documents to clear title to the real estate in order to allow a sale to move forward on the representation from the trustees/defendants’ attorney that payment of the amounts owed would be made to the plaintiffs, in full, at the time of closing. However, when the closing took place, no checks were sent. The District Court Appellate Division found that the trustees/defendants had breached the agreement, but were only liable in their fiduciary, and not their individual, capacities.

From the article: “Boston trusts and estates attorney Eric D. Correira, who was not involved in the case, said that while the plaintiffs were smart to record notice affidavits and put a cloud on the title of the real estate in question in order to protect their interests, it might have been a good idea if they had held onto the revised affidavit until the closing, or at least had it released to the buyer’s attorney, instead of letting the defendants’ attorney hold it in escrow.

‘Unfortunately, this fact pattern illustrates that, as lawyers, we must always assume the worst about others,’ Correira said. ‘I am sure the defendants’ attorney was acting in good faith when he made the representation that the plaintiffs would be paid at closing, but clearly someone decided to renege on that deal once they had the revised affidavit in their hands.'”

For the full article, click here.