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the three parcels transferred on June 6, 1991, including the
house built in 1989, was $69,000 as of that date.4
Mr. Fisher and his former wife, Alice A. Fisher, originally
obtained title to parcel 1 sometime in 1984. On November 15,
1984, Mr. and Mrs. Fisher borrowed $10,000 from North Florida
National Bank. This loan was secured by a mortgage on parcel 1.
Under the terms of this loan, Mr. and Mrs. Fisher promised to pay
$244.38 per month for 5 years.
Mr. and Mrs. Fisher were divorced in 1985. The Circuit
Court for Leon County, Florida, issued a Final Judgment of
Dissolution of Marriage on April 26, 1985. As part of this
judgment, Mrs. Fisher was awarded the house and property located
at 5741 Donnesbury Way, Tallahassee, Florida, in which Mr. and
Mrs. Fisher were residing prior to the divorce.5 Mr. Fisher was
awarded parcel 1 located at 6913 Apalachee Parkway.
On June 10, 1988, Mr. Fisher executed a real estate mortgage
on parcel 1 to secure his indebtedness of $10,937.46 to C & S
Family Credit, Inc. On September 14, 1988, Mr. Fisher executed a
mortgage on parcel 1 to secure his indebtedness of $21,875.03 to
C & S Family Credit, Inc. On February 10, 1989, Mr. Fisher
4The 2-acre improved parcel with the house had a fair market
value of $59,000, and the remaining two parcels had a fair market
value of $10,000 together.
5Mr. and Mrs. Fisher had approximately $30,000 in equity in
this property at the time of their divorce.
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