James Clark McReynolds

“ The right to effect these changes in the estate was not terminated until the cotenant's death. Cessation of this power after enactment of the Revenue Act of 1924 presented proper occasion for imposition of the tax. The death became the generating source of definite assessions to the survivor's property rights. ”

“ That under the tenancy created in June, 1915, each party acquired immediate joint ownership in the whole property. That his interest therein then became completely vested and no change in title or transfer of interest occurred by reason of the cotenant's death. No interest ceased or passed at the death. The Commissioner is attempting, arbitrarily, capriciously, and in violation of the due process clause of the Fifth Amendment, to tax something created, transferred, and vested in the survivor prior to the first (1916) federal estate tax law. ”

“ This opinion recognizes that some rights accrue 'to a surviving joint tenant upon the death of his cotenant,' and the possibility of taxation by reason of this fact. But it apparently affirms that under the rule approved in California liability for such taxation must be determined according to law in force when the cotenancy is established. ”