Grantor’s Remorse
October 7, 2014The grantor to a trust apparently changed his mind and sought to undo the trust. After litigation on several fronts spanning several decades, the grantor filed a declaratory action seeking a declaration that he is the owner of an oil and gas lease called the Westbrook Lease, which was previously property of the trust he created. The trustee opposed the grantor’s efforts, arguing that the trust was still intact and that the trust still owned the rights to the Westbrook Lease.
The main issue in the case was the effect of several judgments, dating as far back as 1980. Specifically, the grantor moved for summary judgment, claiming that res judicata applied in his favor based on one of the prior orders. The trial court agreed and granted summary judgment. The Court of Appeals, however, reversed because the judgment upon which the trial court relied had been reversed on appeal.
