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to Delaware Corporation as of August 1, 1993, or any time there-
after during the years in question, the benefits and burdens of
ownership of the Virginia Beach property is that Ms. Havens
continued to reside at that property during those years without
paying any rent.19
It is also significant that at all relevant times, including
the respective effective dates of the Caroline County farm
contract and the Virginia Beach property contract and all rele-
vant times thereafter during the taxable years in question,
petitioners did not intend that Ms. Havens transfer to Delaware
Corporation equitable ownership of and legal title to the
Caroline County farm and the Virginia Beach property. Indeed,
19Petitioners contend that during 1994 Ms. Havens and Mr.
Barber each paid $3,600 to Delaware Corporation for the rental of
the Virginia Beach property, or a total of $7,200, which they
concede did not equal the annual fair rental value of that
property. In support of that contention, petitioners rely on Mr.
Barber’s testimony. We found such testimony to be questionable,
vague, and uncorroborated, and we shall not rely on it to estab-
lish that Mr. Barber paid any amount to Delaware Corporation in
1994 as rent for his use of the Virginia Beach property. More-
over, Mr. Barber’s testimony on which petitioners rely does not
address whether Ms. Havens paid any rent to Delaware Corporation
in 1994 for her use of that property. Petitioners have not
presented any evidence, and make no argument, that during the
years in question Delaware Corporation received any rent for the
Caroline County farm. On the record before us, we find that
petitioners have failed to establish that Ms. Havens and Mr.
Barber (1) paid during 1994 a total of $7,200 as rent for the
Virginia Beach property and (2) paid during the years in question
any rent for the Caroline County farm and the Virginia Beach
property. On that record, we further find that petitioners have
failed to carry their burden of establishing that during the
years in question the Caroline County farm and the Virginia Beach
property were rental properties that Delaware Corporation owned.
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