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petitioner, through Ms. Allen, a promissory note and mortgage for
$36,000. Petitioner’s basis in the three lots was $9,316, and he
incurred selling costs of $412.
On May 20, 1985, petitioner through Ms. Allen, as trustee,
assigned the mortgage that the Mynhiers issued to his father,
Charles Medlin, for $36,000. Petitioner instructed the mortgagor
to send the mortgage payments directly to Charles Medlin. An
assignment of mortgage dated May 20, 1985, and signed by Ms.
Allen, was filed with the County of Osceola, Florida; it
provides:
That I, Donna L. Allen part[y] of the first part, in
consideration of the sum of Thirty-Six Thousand and
no/100 dollars, and other valuable considerations,
received from or on behalf of Charles B. Medlin party
of the second part, at or before the ensealing and
delivery of those presents, the receipt whereof is
hereby acknowledged, do hereby grant, bargain, sell,
assign, transfer and set over unto the said part[y] of
the second part a certain mortgage bearing date the
12th day of April A.D. 1985 made by Burl R. Mynhier and
Louise Mynhier, his wife in favor of Donna L. Allen and
recorded in Official Records Book 772; page 782, public
records of Osceola County, Florida, upon the following
described piece or parcel of land, situate and being in
said County and State, to wit:
[Description of OS-06]
* * * * * * *
Together with the note or obligation described in said
mortgage, and the moneys due and to become due thereon,
with interest from the 20th day of May 1985.
To Have and to Hold the same unto the said party
of the second part his heirs, legal representatives,
successors and assigns forever.
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