Boston, MA -- A Massachusetts court is considering whether to approve efforts to tear up a 351-year-old will that was designed to raise funds for Ipswich public schools.
William Payne's will left a 35-acre seafront property to benefit public schools on the condition that the land should never be sold. Rent from 167 cottages built on the land has helped fund the schools.
Tenants sued the trustees over rent increases in 2006. The trust agreed to tear up Payne's will and sell the land to tenants for nearly $32 million to settle the case.
Hundreds of residents oppose the deal, accusing trustees of mismanagement.
Attorney for the trustees say the deal will guarantee funding for public schools.
The Massachusetts Appeals Court will hear arguments March 2 on whether to nullify the deal.
AP