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Mary Street was located on approximately 3.4 acres. It had
a 2,700-square-foot residence consisting of three bedrooms and a
separate residence for the caretaker and his spouse. It also had
a citrus grove with approximately 350 citrus trees. Petitioners
maintained a citrus grove business on the property.
For the years 1973 through 1988, petitioners received a
homeowners' exemption on Mary Street.
On March 29, 1993, petitioners sold Mary Street. Before to
that date, petitioners purchased another residence at 6199
Hawarden Drive in Riverside. Before the sale of Mary Street,
petitioners never rented out the property.
30 The Point
The Corporation owned a one-half interest in 30 The Point,
Coronado, California (30 The Point), with petitioners holding the
other one-half interest. The Corporation used 30 The Point for
business purposes, such as office space, as a place to entertain
clients, and as an alternative to hotel rooms for the
Corporations's employees while they were in the San Diego area.
In February 1985, the Corporation sold its interest in 30 The
Point.
20 The Point
On April 28, 1983, the Corporation purchased a residence
located at 20 The Point, Coronado, California (20 The Point).
The Corporation purchased 20 The Point fully furnished.
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Last modified: May 25, 2011