- 395 -
that most of the partnership interests held by his grantor trusts
had negative capital accounts, and an outright sale would have
realized significant gains (assumption of liabilities in excess
of the partners' bases). Specifically, the aggregate negative
capital accounts for the interests held by the grantor trusts as
of May 15, 1983, was $476,888.60, as follows:
Entity Partnership Interest Cap. Acct.
BWK Rev Trust Bajomonte Associates ($180,270.00)
BWK Rev Trust Diversified River Bend
Partners (37,622.05)
BWK Rev Trust Diversified Stephenson's
Lake Partners (30,364.70)
Everglades Trusts Wayside Partners (4,806.00)
Everglades Trusts Shady Crest Investors (36,425.79)
Everglades Trusts Diversified Raintree
Partners (15,942.00)
Everglades Trusts Edgewater Partners (24,798.38)
Everglades Trusts Kentucky Holdings (4,703.19)
Everglades Trusts Walnut Creek Group (2,095.05)
Everglades Trusts Candlelite Apartments (77,401.56)
Everglades Trusts Village Square Lexington (15,032.32)
Everglades Trusts Wortham Office Mall (12,751.50)
Everglades Trusts Kon-Tiki Apartments (25,606.66)
Everglades Trusts Diversified Hillsborough
Partners 3,979.00
Everglades Trusts Manderville Partners 10,353.65
Everglades Trusts Palo Alto Partners 1,219.11
Everglades Trusts J.S. Investors 9,305.00
Everglades Trusts Cove Realty 14,098.00
Everglades Trusts Midwest Realty 13,834.56
Everglades Trusts Washtenew Management 2,766.09
Everglades Trusts Tradewinds Shopping Center 3,107.00
Net capital accounts (476,888.60)
The price (fair market value) allocated to each entity was
as follows:
Page: Previous 385 386 387 388 389 390 391 392 393 394 395 396 397 398 399 400 401 402 403 404 NextLast modified: May 25, 2011