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LANDMARK COMMUNICATIONS v. SOVRAN BANK

Record No. 880143.

387 S.E.2d 484 (1990)

LANDMARK COMMUNICATIONS, INC., et al. v. SOVRAN BANK, N.A., Trustee, etc., et al.

Supreme Court of Virginia.

January 12, 1990.

Attorney(s) appearing for the Case

Thomas E. Cabaniss, Robert C. Nusbaum (Mary Jane Hall, Anne B. Shumadine, Norfolk, George H. Gray, Chesapeake, McGuire, Woods, Battle & Boothe, Hofheimer, Nusbaum, McPhaul & Samuels, Norfolk, Outland, Gray, O'Keefe & Hubbard, Chesapeake, on briefs), for appellants.

Robert R. MacMillan (Michael T. Zugelder, Breeden, MacMillan & Green, Norfolk, on brief), for appellee Sovran Bank, N.A., Trustee Under the Will of William S. Glennan, Deceased.

John E. Donaldson, for Unborn and Unknown defendants and Patricia Jennifer Tyler, J. Goodenow Tyler, IV, Kelly Anne Tyler, Kimberly Christine Fulford, David Todd Fulford, Dana Maria Yates, Lisa Jane Yates, Catherine Tyler Yates, Amanda Moody, Erich Rifenbaugh, Brad Rifenbaugh, Cynthia Rogers, Angela Rogers, Michael H. Reilly, David T. Reilly, Marci Keville Sheldin, Jennifer Castoldi, Courtney Jackson, Angela Jackson, Thomas Evans, Phoebe Evans, Anne Custis Evans, Melissa Evans, Rachel Evans, Rebecca Evans, Virginia Evans, Barbara Dunham, Luke Hunsberger, and Jon Eliot Ford, Infants.

Present: CARRICO, C.J., COMPTON, STEPHENSON, RUSSELL, WHITING, and LACY, JJ., and HARRISON, Retired Justice.

LACY, Justice.

In this appeal we are asked to determine whether remainder interests created in a trust were indefeasibly vested or merely contingent remainders.

Appellants, plaintiffs below, are parties to a contract for the sale of the assets held in trust pursuant to William S. Glennan's will, probated on December 23, 1958. The primary assets held by the trust are shares of stock in Landmark Communications, Inc. and TeleCable Corporation (Landmark), which...

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