Dixie Van Aernam - Page 1

                                 T.C. Memo. 2000-377                                  

                               UNITED STATES TAX COURT                                

                           DIXIE VAN AERNAM, Petitioner v.                            
                    COMMISSIONER OF INTERNAL REVENUE, Respondent                      

               Docket No. 8972-97.                 Filed December 14, 2000.           

                    R claims that P is liable as a transferee of H                    
               for deficiencies in H’s income taxes.  P and H                         
               contracted to buy property.  P and two others                          
               contributed to the purchase price.  Deed number one                    
               conveyed the property from the seller to P, alone.                     
               Deed number two conveyed the property from the seller                  
               to H, alone.  Subsequently, by deed number three, H                    
               conveyed the property to P, alone.  R claims that deed                 
               number three was a fraudulent transfer under the                       
               Uniform Fraudulent Transfer Act, Fla. Stat. Ann. secs.                 
               726.101 through 726.112 (West 2000).  R relies                         
               exclusively on the stipulated facts to establish the                   
               elements of a fraudulent transfer.  P’s testimony                      
               contradicts inferences to be drawn from the stipulated                 
               facts.  R has failed to carry his burden of proof that                 
               the transfer was fraudulent.  Held:  P has no                          
               transferee liability under sec. 6901(a), I.R.C.                        

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