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estate, as these dividends were considered to be Birnie's
property, pursuant to the sisters' joint ownership agreement.
Birnie reported the receipt of dividends paid in 1980, prior to
July 1980, with respect to the 1,610 shares of Hondo stock on her
1980 Federal income tax return. After July of 1980, and before
April of 1981, dividends paid with respect to the 1,610 shares of
Hondo stock transferred by Birnie to her niece and two nephews
were paid out of Elizabeth's estate directly to Patricia Vestal,
Gordon Davenport, and Charles Botefuhr, in proportion to the
stock they had received pursuant to the sales agreements and
gift. Hondo typically paid dividends on or about March 1 of each
year, in May of each year, and on or about August 31 of each
year. The record ownership of 1,610 shares of Hondo stock was
transferred on the stock ledger of Hondo from the name of
Elizabeth Davenport to the names of Patricia Vestal (536 shares),
Gordon Davenport (537 shares), and Charles Botefuhr (537 shares),
on April 14, 1981. This transfer of ownership on Hondo's stock
ledger of the 1,610 shares of stock was made pursuant to the
direction of Gordon Davenport and Patricia Vestal. The transfer
of title to the 1,610 shares of Hondo stock, 536 shares to
Patricia Vestal, and 537 shares each to Gordon Davenport and
Charles Botefuhr, was made to accomplish Birnie's intentions, and
to complete the transfers made by the sales agreements and Deed
of Gift. Patricia Vestal, Gordon Davenport, and Charles Botefuhr
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