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part of their marital dissolution proceeding. By grant deed, on
December 10, 1987, decedent transferred to Ms. Friedeberg an
undivided one-half joint tenancy interest in Valencia. The
parties agree that the fair market value of Valencia on the date
of decedent's death was $965,000.
From 1964 until his death, decedent owned a cottage located
at 2437 South Fitch Road (South Fitch), Healdsburg, California.
On August 21, 1964, decedent and Ms. Fratini acquired title to
South Fitch as joint tenants for $9,600. In 1970, decedent
acquired an adjacent lot at a cost of $2,000. Hereinafter, we
shall refer to the cottage and the adjacent lot as South Fitch.
On December 10, 1987, decedent transferred to Ms. Friedeberg an
undivided one-half joint tenancy interest in South Fitch.2 The
parties agree that the fair market value of South Fitch on the
date of decedent's death was $29,000.
From 1965 until his death, decedent owned a 10-unit
apartment building located at 130 Acadia Street (Acadia), San
Francisco, California. The original purchase price of Acadia was
$128,869. As a result of his divorce from Ms. Fratini, decedent
ended up with an undivided 10-percent interest in Acadia. On
2It is unclear whether incident to her divorce Ms. Fratini
deeded her one-half interest in South Fitch to decedent prior to
decedent's transferring a one-half joint tenancy in South Fitch
to Ms. Friedeberg. Because the parties agree on the fair market
value of the South Fitch property, we need not address this
issue.
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