Opinion
October 16, 1950.
Appeal from Surrogate's Court Act.
It is our opinion that under the regulations of the Secretary of the Treasury of the United States applicable to these bonds at the time of their purchase and registration, the petitioner, as designated beneficiary therein, acquired a present interest and fixed right therein and, upon the death of the purchaser, with the bonds remaining in that form, became the owner thereof with right of possession. (See Matter of Deyo, 180 Misc. 32, and cases there cited; Matter of Hager, 181 Misc. 431; Matter of Amols, 184 Misc. 364; Matter of Kalina, 184 Misc. 367, appeal dismissed 270 App. Div. 761, and Hart v. Hart, 194 Misc. 162.) The record presents no proof whatever that decedent was insolvent at the time of the purchase and registration of the bonds or, indeed, that he had any creditors at that time. It cannot be held that the registration of the bonds by the decedent at the time of their purchase in beneficiary form constituted a fraudulent conveyance under article 10 of the Debtor and Creditor Law. Nolan, P.J., Carswell, Sneed, Wenzel and MacCrate, JJ., concur. Settle order on notice.