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Parties' Arguments
In the statutory notice of deficiency, respondent determined
that the trade fixtures were includable in decedent's gross
estate. On brief, respondent argues that FNF failed to remove
its trade fixtures during the "continuance of * * * [its] term"
as required by section 1019 of the California Civil Code;
therefore, the trade fixtures belonged to decedent at the time of
his death and are includable in his gross estate.
Petitioner argues that FNF's right to remove its trade
fixtures continued after decedent's death; therefore, decedent
held no interest in the trade fixtures at death, and they are not
includable in decedent's gross estate.
Time for Removal
When FNF initially took possession of the land, it did so
under a written lease with decedent. The term of the lease was
for 10 years with two options to renew for 10 years each.
Upon the lease's expiration on December 31, 1992, FNF
retained its possession of the leased tract and continued to use
the trade fixtures it had placed thereon. This holdover tenancy
was a tenancy at will in accordance with the original lease's
holdover provision. See Hull v. Laugharn, 3 Cal. App. 2d 310,
314 (1934); see also Spaulding v. Yovino-Young, 30 Cal. 2d 138,
141 (1947); Psihozios v. Humberg, 80 Cal. App. 2d 215, 220
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