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At trial, petitioner testified that he was in a partnership
with Mr. Schoolfield with respect to the High Plains Property;
however, he could not testify definitively that he and Mr.
Schoolfield were still 50-50 owners at the time of the sale:
Q What was your ownership interest in * * * [the
High Plains Lot]?
A I was in a partnership. This is one of the pieces
I mentioned earlier that Wayne Schoolfield and I had
purchased from Mr. Green and Mr. Mitchell and developed
it, broke it up into these 5-acre tracts, and sold
them.
Q What percentage interest did you have when OS-35
was sold?
A I’m sorry. I don’t--Wayne and I, when we did this
development, were 50-50 and, I believe, that at this
time, we were still 50-50 owners in the property.
* * * * * * *
Q Did that partnership ultimately end?
A Yes, sir.
Q Do you recall whether it ended before or after the
sale of the lots in OS-35?
A I think we ultimately sold all the property out,
and, then, basically, took our money and went home.
Mr. Schoolfield testified that he was involved in a joint
venture with petitioner with respect to the High Plains Property.
However, when Mr. Schoolfield was shown a copy of the warranty
deed from Ms. Allen to Mr. Bass, he could not recall having ever
owned any interest in Lot 23, and he did not recall having ever
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