Estate of Rebecca A. Wineman - Page 19




                                       - 19 -                                         

          Byrum, 408 U.S. 125, 145 (1972) (possession and enjoyment are               
          synonymous with substantial present economic benefit).  The fact            
          that decedent personally used less than all of the property does            
          not demonstrate that she did not possess and enjoy the entire               
          property.                                                                   
               In contrast, where a decedent continues exclusive possession           
          and continues to pay taxes and other property expenses after the            
          transfer and the owner of record title neither charges rent nor             
          takes possession of the property, these facts are highly                    
          indicative of an implied agreement.  See Guynn v. United States,            
          supra at 1150; Estate of Rapelje v. Commissioner, supra at 87.              
          Here, however, decedent shared the property with Dean and his               
          wife and rented the property at a below-market rent (discussed in           
          more detail infra sec. II) to Coastal Ranches.  Pursuant to its             
          leases, Coastal Ranches paid the taxes and other property                   
          expenses associated with parcel 3.  These facts do not of                   
          themselves prove the absence of an implied agreement.                       
               On balance, the objective facts convince us that an implied            
          agreement giving decedent continuing possession and enjoyment of            
          the entire homestead property did not exist.  Unlike the                    
          authority that has been cited in respondent’s brief, this case              
          involves a transfer of less than a fee simple interest in                   
          property.  The majority owner’s continued use and possession of             
          real property following transfer of a minority interest is not              





Page:  Previous  9  10  11  12  13  14  15  16  17  18  19  20  21  22  23  24  25  26  27  28  Next

Last modified: May 25, 2011