Ronald R. Armacost and Cathy L. Armacost - Page 10

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               The parties submitted Joint Exhibit 4-D, Schedule of Assets             
          Received Upon Marital Dissolution (Schedule of Assets), which                
          refers to a commercial property in Liberty Lake valued at                    
          $247,000.  The Schedule of Assets only refers to one property in             
          Liberty Lake.  The Separation Agreement, however, refers to two              
          properties in Liberty Lake.  A condominium is described in                   
          section 7, paragraph 18 of the Separation Agreement, and                     
          commercial real estate abutting Liberty Lake Road is found in                
          section 7, paragraph 20.                                                     
               For reasons unknown, a condominium in Liberty Lake is not               
          listed on the Schedule of Assets.  Petitioner testified, however,            
          that the only noninvestment property he received outside of the              
          personal property was the condominium in Maui and the house on               
          the lake in Idaho.  Everything else, petitioner claims, is                   
          commercial investment property.  His testimony is supported by               
          the Schedule of Assets, which categorizes the Liberty Lake                   
          property valued at $247,000 as commercial property.                          
               Respondent's argument that the Liberty Lake property valued             
          at $247,000 is a noninvestment property is unsupported by the                
          record.  We do not know the nature of the condominium in Liberty             
          Lake, but its character does not affect our finding that the                 
          commercial property in Liberty Lake valued at $247,000 is                    
          includable in petitioner's acquisition of investment property                
          from Linda Armacost.                                                         





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