- 3 - At the time of their divorce, petitioner’s and Mr. Walker’s marital estate was worth several million dollars. Included in the marital estate was a piece of real property (Happy Valley property) located next to petitioner’s and Mr. Walker’s home in Clackamas County, Oregon, in which petitioner and Mr. Walker jointly owned a 50-percent interest. The other 50-percent interest in the Happy Valley property had been conveyed to a trust for the benefit of petitioner and Mr. Walker’s children and grandchildren (Walker Family Irrevocable Trust). The marital settlement agreement that was entered into by petitioner and Mr. Walker severed their joint ownership in the Happy Valley property and conveyed separate 25-percent interests to each of them. In accordance with the terms of the marital settlement agreement and pursuant to a bargain and sale deed signed and dated by petitioner and notarized on October 10, 1996, and signed and dated by Mr. Walker and notarized on October 17, 1996, petitioner and Mr. Walker, as grantors, conveyed to petitioner, as grantee, one-half of their previously jointly owned 50-percent interest in the Happy Valley property. The stated consideration for this conveyance was the Stipulated Judgment of Dissolution of Marriage (divorce decree) entered in Clackamas County (Oregon) Circuit Court Case No. 96 04 504, Walker v. Walker. Neither the marital settlement agreement norPage: 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