- 11 -
Based on our findings above, we draw the following
conclusions regarding the value of properties distributed:
NonInvestment Investment
Ronald Armacost 1$87,000 2$1,137,800
Linda Armacost 399,000 4641,000
1Includes lake home in Idaho ($50,000), personal
property and household furnishings ($25,000),
condominium in Maui ($61,000) and debt on the family
home (-$49,000).
2Includes all capital stock in Budget Oil Co.,
Inc. ($101,000), one-half of all investment stocks,
royalty rights, and partnership interests ($0), IRA
($4,800), one-half interest in pension and profit
sharing plan ($40,000), commercial property located at
N. 7902 Division (-$38,000), commercial property
located at Division and Augusta ($128,000), commercial
property located at University City ($195,000),
commercial property located on Pines Road ($400,000),
commercial property located in Moscow, Idaho
($145,000), commercial property located at Liberty Lake
($247,000), real estate at Third and Maple ($50,000),
and a bank note on the McDonald's property (-$135,000).
3Includes the family home ($70,000), vehicles and
household furnishings ($25,000), and account balances
($4,000).
4Includes McDonald's property ($580,000), Miller
real estate contract ($16,000), Lang real estate
contract ($5,000), one-half interest in investment
stocks, royalty rights and partnership interests ($0),
one-half interest in pension and profit sharing plan
($40,000).
Petitioner received $12,000 less than Linda Armacost in
noninvestment property value, and $496,000 more than Linda
Armacost in investment property value. This means that
petitioner is entitled to his one-half community interest of
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Last modified: May 25, 2011