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Matter of Estate of James J. Scully, deceased.

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This is a proceeding to revoke Letters of Trusteeship heretofore issued to Daniel J. Scully, and to issue successor Letters of Trusteeship to the petitioner, James J. Scully, in order to enable him to do those things which his brother, the Trustee, has failed to do and to try to save the subject real property from foreclosure.

Petitioner alleges that the Trustee has collected rental income for many years, but stopped making mortgage payments, thereby jeopardizing the real property. He further alleges that the Trustee borrowed $100,000.00 against the property to pay off a previous mortgage and for renovations, but has done nothing. He claims that the property remains in disrepair and is underutilized. Finally, he alleges that due to his brother’s mismanagement of the Trust, the petitioner has received no share of the rents collected for twenty years, contrary to the terms of the Trust. Accordingly, he also seeks a full accounting from his brother for his stewardship as the Trustee herein.

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