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former spouse will, under conditions described, pay a portion
of petitioner’s 1997 Federal income tax liability; and (5) in
order to equalize the division of marital property, require
petitioner’s former spouse to sign a $107,782, interest-bearing,
secured “vendor’s lien note” (the note), payable to petitioner in
monthly installments of $1,500, plus annual “balloon” payments of
$12,000.
During 1998, which petitioner’s former spouse described as a
“good crop year”, he made payments to, or on behalf of,
petitioner as required by the divorce decree. Starting in 1999
and continuing into 2000, petitioner’s former spouse failed to
make all of the required payments on the note, failed to keep his
child support obligations current, and failed to make all of the
mortgage payments on the marital residence. As of the close of
1999, petitioner’s former spouse was no longer engaged in
farming. In September 2000 he initiated a bankruptcy proceeding.
It appears that after the bankruptcy proceeding was commenced,
petitioner received payments of $25,000 and $30,000 from her
former spouse. The purpose(s) or specific date(s) of the
payments cannot be determined from the record.
Following her divorce, petitioner sold the marital
residence, and, in sequence, purchased, resided in, and sold two
other residences. She also graduated from a private college and
began employment as a nurse. The children lived with petitioner
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Last modified: May 25, 2011