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Deborah, from Richard and Marilou for $45,000, occurred between
related parties and was not based on any fair market valuation
thereof, but rather was based on the amount Marilou was willing
to accept to relinquish her one-half interest in the farm
acreage;
(5) As set forth in respondent’s expert’s report, sales of
comparable properties located in the vicinity of the subject
properties support respondent’s expert’s fair market value for
the farm acreage of $176,000;
(6) Petitioners’ expert real estate appraisal of the farm
acreage was based on properties not located within the reasonable
vicinity of the subject properties and located in less desirable
areas;
(7) Neither party submitted an expert appraisal of the
residence acreage, and the parties appear to accept the $16,984
in cash that Carrie received in connection with the May 2000 sale
of the residence acreage as indicative of the fair market value
of the residence acreage, as of September 9, 1998, and of the
fair market value of Richard’s one-half interest therein that was
transferred to Carrie; and
(8) With regard to the fair market value of Richard’s one-
half interest in the 20-acre carve out that he transferred to
Carrie in 1998, respondent’s expert appraised it at $10,000, and
petitioners’ expert did not opine as to its value.
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