Estate of Juanita F. Sirmans, Deceased Dan L. Sirmans, Executor - Page 29

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             date; and there is no evidence that the conditions of the                
             property changed in any material way between the date of                 
             death and the date of the sale.                                          
                  Even if we accept petitioner's contention that the                  
             sale of 4.83 acres of the decedent's land to Hillsborough                
             County was an arm's-length sale by a willing buyer to a                  
             willing seller, we are not certain that it is the best                   
             evidence of the fair market value of the decedent's land.                
             We infer that petitioner may have had an incentive to reach              
             a speedy agreement for sale of the 4.83 acres with                       
             Hillsborough County and may have been willing to sell the                
             property for less than its fair market value.  We base that              
             inference on three factors:  (1) It was difficult to sell                
             the decedent's property until Hillsborough County's plans                
             for the road project became more definite and known; (2)                 
             the construction of the road project was anticipated to                  
             increase the value of the surrounding areas, including                   
             decedent's land; and (3) the County had the power to                     
             condemn the property.                                                    
                  To reflect the foregoing and concessions,                           

             Decision will be entered                                                 
                                           under Rule 155.                            

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Last modified: May 25, 2011