Maureen Monsour - Page 9

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          signed a quitclaim deed by which they transferred to Highlander             
          Property Enterprises units 3 and 7 of the Three Crowns Hotel,               
          which had not been the subject of the Florida Circuit Court                 
               At a time not disclosed by the record, Mr. Monsour and other           
          stockholders of Azure Tides, Inc., were forced to sell that                 
          corporation to a hotel chain.                                               
               On March 2, 1988, petitioner and Mr. Monsour signed a                  
          continuing guaranty with respect to Georgetown Square, Ltd.,                
          which provided that they jointly and severally guaranteed the               
          payment of any and all obligations and indebtedness of Georgetown           
          Square, Ltd., pertaining to a $500,000 mortgage.                            
               At a time not disclosed by the record, the mortgage on the             
          Three Crowns Hotel Back Court was foreclosed.                               
               Starting around 1989, pursuant to the prenuptial agreement,            
          petitioner asked Mr. Monsour to make her the joint owner of at              
          least certain of Mr. Monsour’s assets, and Mr. Monsour agreed to            
          do so.  As discussed below, pursuant to petitioner’s request, Mr.           
          Monsour made certain transfers of Mr. Monsour’s assets to peti-             
          tioner (Mr. Monsour’s transfers).3                                          
               In 1989, Mr. Monsour transferred to petitioner one-half of             

               3The record establishes that Mr. Monsour made certain other            
          transfers to petitioner but does not establish which of Mr.                 
          Monsour’s assets were included in those transfers.  The record              
          does not establish whether Mr. Monsour made any additional                  
          transfers of Mr. Monsour’s assets to petitioner.                            

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Last modified: May 25, 2011