Robert K. and Dawn E. Lowry - Page 6

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               Necessary steps continued until May 21, 1994, so that the              
          Title Company could remove certain exceptions raised by the title           
          report and provide title insurance as required by the escrow                
          instructions.  As of May 27, 1994, the Title Company had                    
          determined that it could issue the title policy without the                 
          exceptions, so the escrow closed and the Grant Deed was recorded            
          on that date.                                                               
               At some point, AAL issued to the Partnership a 1993 Form               
          1099-A (undated), Acquisition or Abandonment of Secured Property,           
          indicating that the Partnership had an outstanding debt in the              
          amount of $3,218,046.06 secured by the Fitch Property, that the             
          date of acquisition or abandonment was December 15, 1993, and               
          that the Fitch Property had an appraised value of $1,915,000.               
               On October 14, 1994, the Partnership filed an Amended Form             
          1065 U.S. Partnership Return of Income for taxable year 1993                
          which included the following:                                               
                       STATEMENT REGARDING ERRONEOUS REPORTING                        
                            OF ABANDONED SECURED PROPERTY                             
                    The Partnership, Lowry Wells Investments, received                
               a form 1099-A for 1993, indicating an abandonment of                   
               real property on December 15, 1993.  This reporting is                 
               wholly inaccurate.  A deed in lieu of foreclosure was                  
               delivered on May 27, 1994.  The lender, Aid Association                
               for Lutherans, erred in reporting the transaction[s] in                
               1993.  A copy of an escrow statement issued by First                   
               American Title Insurance Company has been attached                     
               which indicates the transfer of title factually                        
               occurred on May 27, 1994.                                              








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