- 34 -
a close relationship between the transferor and the
transferee.
Hagaman v. Commissioner, 100 T.C. at 188-189; see Advest, Inc. v.
Rader, 743 F. Supp. 851, 854 (S.D. Fla. 1990).
Petitioners concede (1) that there was a close relationship
(father/son) between Mr. Kayian, Sr. and Mr. Kayian, Jr., see
Fla. Stat. Ann. sec. 726.105(2)(a); (2) that the initial transfer
was for no consideration, Fla. Stat. Ann. sec. 726.105(2)(h);
(3) that "Florida law permits courts to indulge in a presumption
that the presence of these two particular badges of fraud, i.e.,
a transfer of assets to a family member for no consideration, are
evidence of actual intent to hinder, delay or defraud creditors",
see Hagaman v. Commissioner, supra at 188-189; Advest, Inc. v.
Rader, supra at 854; and (4) that petitioners bear the burden of
rebutting any such presumption, see Hagaman v. Commissioner,
supra; Advest, Inc. v. Rader, supra. We find on the record in
these cases that a presumption exists under the Florida fraud-
ulent transfer statute that Mr. Kayian, Sr. made the initial
transfer with a fraudulent intent.
Petitioners contend that if we were to find under the
Florida fraudulent transfer statute that a presumption exists
that Mr. Kayian, Sr. made the initial transfer with a fraudulent
intent, they have rebutted such a presumption. According to
petitioners,
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