- 3 - Mr. Forbes In 1982, decedent was married to Walter T. Forbes, Sr. (Mr. Forbes). By a previous marriage, Mr. Forbes had two children: Walter T. Forbes, Jr. (Walter), and Betty F. Rayburn (Betty). In 1982, Mr. Forbes owned individually approximately 2,058 acres of land in Macon and Houston Counties, Georgia (the Forbes land). In 1982, the Forbes land included approximately 676 acres of timberland and 338 acres of pecan orchards. The remainder was open crop land, creek bottoms, slopes, gullies and drains, low- lying land along Baptist Creek and Indian Creek, yards, roads, and other areas around barns and sheds. Mr. Forbes also owned farm assets and operated a farming business on the Forbes land in the form of a sole proprietorship known as Malatchie Farms (the sole proprietorship). The Limited Partnership On or about March 25, 1982, Mr. Forbes, Walter, and Betty formed a limited partnership, Malatchie Land Co., L.P. (the limited partnership). The partnership agreement contains the following statement of purpose: The purpose and character of the business of the Partnership is as follows: to purchase, lease and sell real estate, including farm and ranch properties, and to do the things necessary or advisable or expedient in connection with or incidental to such business.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011