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v. United States, 682 F.2d 1220, 1224 (5th Cir. 1982), as does a
transfer that is made without an independent appraisal of the
underlying property, Bergeron v. Commissioner, T.C. Memo.
1986-587. A gift also may arise from a transfer without an
arm's-length negotiation over the purchase price, see Righter v.
United States, 258 F. Supp. 763, 767-768 (W.D. Mo. 1966), revd.
and remanded on another issue 400 F.2d 344 (8th Cir. 1968), when
the effect of a transfer is to remove the donor from a business
that he or she created, Galluzzo v. Commissioner, T.C. Memo.
1981-733, or when the moving impulse for a transfer is the desire
to pass assets on to a family member, Robinette v. Helvering,
318 U.S. 184, 187-188 (1943). Transfers between family members
are subject to strict scrutiny, and the presumption is that such
transfers are gifts. Harwood v. Commissioner, 82 T.C. 239
(1984), affd. without published opinion 786 F.2d 1174 (9th Cir.
1986); Estate of Reynolds v. Commissioner, 55 T.C. 172, 201
(1970); Mercil v. Commissioner, 24 T.C. 1150, 1153 (1955); see
Muserlian v. Commissioner, 932 F.2d 109, 112 (2d Cir. 1991),
affg. T.C. Memo. 1989-493.
Our review of the record in the light most favorable to the
nonmoving party (i.e., respondent) convinces us that genuine
issues as to material fact remain to be decided by the Court.
Petitioner claims that the record shows clearly that Ms. Maggos
was defrauded because she transferred her PCAB shares for less
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