Harvey M. Pert, Transferee - Page 38

                                       - 38 -                                         

          he received from his parents in 1993.  However, he could have               
          used the $40,000 they gave him in December 1990 or the gift of              
          real estate worth $46,000 that he sold in July 1991.                        
               Respondent contends that we should disregard Mr. Pert's                
          testimony as self-serving and infer that Mrs. Pert gave Mr. Pert            
          the funds to buy CD 2775.  Mrs. Pert withdrew $199,628 from the             
          C&S Trust account No. 836150 on November 7, 1991.  She bought a             
          $100,000 certificate of deposit on November 8, 1991, and Mr. Pert           
          bought CD 2775 at the same branch of Florida Bank of Commerce               
          from the same person on the same day.  Thus, it was possible that           
          Mrs. Pert gave Mr. Pert the funds to buy CD 2775.                           
               The record shows that there were two possible sources of               
          funds for CD 2775.  The source of funds alleged by respondent is            
          closer in time and place, a circumstance on which respondent                
          relies.  However, Mr. Pert’s testimony on this point was                    
          plausible and unrebutted.  Respondent bears the burden of proof             
          and failed to carry it here.                                                
               We conclude that respondent has not proven that Mr. Pert               
          used funds from Mr. Riffe's estate to buy the $43,072 certificate           
          of deposit on November 8, 1991.                                             
                    c.   Cash To Buy the 610 Sandy Hook Road Property                 
               Mrs. Pert gave Mr. Pert $53,018 which he used to buy the 610           
          Sandy Hook Road property.  Respondent contends that 610 Sandy               
          Hook Road was solely Mr. Pert’s property.  We disagree.                     





Page:  Previous  28  29  30  31  32  33  34  35  36  37  38  39  40  41  42  43  44  45  46  47  Next

Last modified: May 25, 2011