re: New Orleans is sole owner of Wisner Trust land and revenues, state appellate court rules

The trust began in 2014 went for 100 years. The city of New Orleans was beneficiary of the land and the heirs were to receive revenue from what came from that land. Some were family, some were not.


In 2014 it was set to expire. Somehow the beneficiaries continued to receive income from the trust. Mitch was mayor then.

Then in 2020, Latoya brought legal action to extend the trust and that was later invalidated by the 4th circuit.

Moreno and the city argue that the trust has expired and the land now goes to ownership of the city and also the revenue from proceeds from that land. Port Fourchon’s lease is a big part of that-

I’m sure that there’ll be legal action to bring this to the la Supreme Court to see if the recent decision is upheld. The heirs are trying to make the case that they’re supposed to continue receiving funds.
The city of New Orleans is trying to make the case that they’re owed the money received by heirs since 2014!

Lawyers will drag that out for a while until someone squeals and wants to settle

What kind of kick back do you think Toya got for the 2020 extension?

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Especially with a sunset wording of 100 years. That seems to be an intentional choice of limited timeframe towards the trust itself.

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Sure,

But you seem to be under the impression that the property was intended to be owned by the heirs following the expiration of the trust. That’s not the case and Wisner never intended for the heirs to own the property.

The heirs sued to break up and annul the trust almost immediately after wisner died in 1928.

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So does this mean that Charity Hospital will continue to sit vacant instead of being redeveloped or demolished?


Why would it mean that?

Tulane is balls deep in redeveloping charity and has been for some time.

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Because the court annulled the agreement between Tulane and the city.

In that same consideration of intention why shouldn’t it be that Winser never intended for a public entity to own ? Having that 100 year placement obviously wanted a end of the trust

“ Because the original documents from 1914 explicitly bequeath the land/assets to the city of New Orleans?”

I didn’t notice that it explicitly bequeathed land / assets to the city rather I thought it said NO, Tulane, LSU & the Wisner family.

Hilarious that this post got so many upvotes when it’s 100% incorrect lmao

No. That’s from the original trust.

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if it wasn’t expected to end payouts

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What do you mean?

Also, only in very limited circumstances (this is not one of them) can trusts last in perpetuity. If ai had to guess, 100 years was the statutory maximum back in 1914. I think it’s 50 years now.