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Intention of Remaining
Petitioners expressed their intention regarding 20 The
Point. In June 1988, they told McKenzie of their intention to
"live at 20 The Point more or less indefinitely." At trial,
Terry stated that on the day of the Corporation's liquidation,
petitioners' intention was to live at 20 The Point for the
future. Petitioners preferred to be in the San Diego area as
opposed to the Riverside area. The San Diego area's climate was
smog free and cooler than the Riverside area's climate, which was
smoggy and hot.
Respondent argues that petitioners always intended to
purchase 15 Sandpiper, even before their acquisition of 20 The
Point on August 31, 1988. We disagree. We find that on August
31, 1988, the date of acquisition of 20 The Point, through the
Corporation's liquidation, petitioners intended to remain in
Coronado at 20 The Point. This intent changed when 15 Sandpiper
became available on September 26, 1988. At that time,
petitioners began to negotiate for the purchase of 15 Sandpiper,
listed 20 The Point for sale, and eventually on November 21,
1988, purchased 15 Sandpiper.
Respondent also argues that petitioners never intended to
make 20 The Point or 15 Sandpiper their principal residence
because they purchased 3 Green Turtle. We disagree. Respondent
relies on a letter by McKenzie, which states that Terry "decided
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