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identified replacement property within the 45-day period. Mr.
Clack recommended that petitioners purchase replacement property
that had been identified during the 45-day period. Real estate
agents also gave petitioners similar advice, including Mr. Van
Voorhis who recommended that a written identification be
furnished to Mr. Clack as the exchange intermediary. In
September 1989, Mr. Van Voorhis offered to write a letter to Mr.
Clack that identified replacement properties that petitioners
were considering (Van Voorhis letter). Mr. Van Voorhis asked
petitioners which properties to include in the letter and also
included properties that Mr. Van Voorhis had shown to them.
Petitioners did not inform Mr. Van Voorhis that they were
interested in either the Skyland or Pleasant Hill properties in
his preparation of this letter. The letter, dated September 18,
1989, identified 10 potential replacement properties and did not
include either the Pleasant Hill or Skyland properties. Despite
this advice, petitioners did not identify either Pleasant Hill or
Skyland in writing or obtain other written documentation.
Moreover, petitioners did not discuss purchasing either the
Pleasant Hill or Skyland property with Mr. Clack, any of their
real estate agents, or the prior owners of the properties during
the 45-day period.
In January 1990, petitioner husband asked Ms. Love to write
a false letter (Skyland letter) addressed to petitioners
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