Estate of Lewis A. Bailey, Deceased, Frances Jeanette Foster, Executrix - Page 10

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          Sale of the California Motel                                                
               After decedent’s death, an attempt was made to sell the                
          California motel.  In 1999, a buyer was found for the property.             
          Before the sale could be consummated, a preliminary report from             
          the title company disclosed decedent’s one-half interest in                 
          parcel 2.  A California probate proceeding was instituted.  In a            
          January 21, 2000, order determining succession to real property,            
          the Superior Court of Kern County, California, found and ordered            
          that Frances, Roger, and Harold each had a one-third interest in            
          what had been decedent’s one-half interest in parcel 2.                     
               To clear up the title and facilitate sale of the California            
          motel, Frances executed a grant deed, conveying her interest in             
          parcel 2 to C&L Bailey.  Similarly, Roger and Harold each                   
          executed quitclaim deeds, conveying their interests in parcel 2             
          to C&L Bailey.  The grant deed and quitclaim deeds each stated              
          identically that the “Documentary transfer tax is $ NONE-TO CLEAR           
          UP TITLE”.                                                                  
               On March 15, 2000, the grant deed and two quitclaim deeds              
          were filed in Kern County, California.  On the same date, there             
          was filed in Kern County, California, a corporation grant deed,             
          executed February 11, 2000, whereby C&L Bailey conveyed parcel 2            
          to the purchaser of the California motel, Grewal Hotels, Inc.               

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Last modified: May 25, 2011