James E. Griffin and Katrina F. Griffin, Transferees - Page 7

                                        - 7 -                                         
          executed a mortgage on parcel 1 to secure an initial advance of             
          $35,000 from Government Employees Credit Union of Florida.                  
               Mr. Fisher obtained title to parcel 2 on January 25, 1990.             
          The record is not clear regarding when Mr. Fisher obtained title            
          to parcel 3.  On February 19, 1990, Mr. Fisher executed a                   
          mortgage on parcels 1 and 3 to Real Estate Financing, Inc.                  
          (REFI), to secure a loan in the original amount of $53,877.  The            
          REFI mortgage was the only encumbrance against the three parcels            
          as of June 6, 1991.  The amount of unpaid principal on the REFI             
          loan as of June 6, 1991, the date the three parcels were                    
          transferred to petitioners, was $51,871.                                    
               Subsequent to the transfer to petitioners on June 6, 1991,             
          Mr. Fisher continued to reside in the house on parcel 1 and                 
          continued to make payments on the REFI loan.  During the 6-month            
          period following the transfer, Mr. Fisher paid off the                      
          outstanding balance on the REFI loan in its entirety.  The                  
          following amounts were paid to REFI by Mr. Fisher:                          

          Date                                Amount                                  
          06/17/91            $600.00                                                 
          07/16/91             600.00                                                 
          07/23/91             202.10                                                 
          08/13/91             600.00                                                 
          09/10/91             600.00                                                 
          09/18/91             109.22                                                 
          10/11/91          20,582.27                                                 
          10/29/91             678.74                                                 
          10/29/91          27,903.53                                                 
          11/19/91             433.83                                                 
          12/05/91           3,619.88                                                 





Page:  Previous  1  2  3  4  5  6  7  8  9  10  11  12  13  14  15  16  17  18  19  20  Next

Last modified: May 25, 2011