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FINDINGS OF FACT
Some of the facts have been stipulated and are found
accordingly. The stipulation of facts, the supplemental
stipulation of facts, and the exhibits submitted therewith are
incorporated herein by this reference.
Petitioner and his wife, Magdalena Frances Wood5 (Mrs.
Wood), resided in Orlando, Florida, when the petitions in these
cases were filed.
Petitioner graduated from West Point in 1960 and served in
the military until 1977. In 1967 while he was in Florida
attending the Air Ground Operations School at Eglin Air Force
Base, petitioner and other officers became shareholders of
Miracle Strip Parkway Realty, Inc. (MSPR, Inc.), a corporation
organized for the purpose of buying land to be divided into lots.
Approximately 20 persons invested in MSPR, Inc. At some time
before the years at issue, MSPR, Inc., converted to a limited
partnership and thereafter was known as Miracle Strip Parkway
Realty, Ltd. (MSPR, Ltd.). Petitioner was a limited partner of
MSPR, Ltd. Over the years, MSPR, Ltd., purchased and sold
5Magdalena Frances Wood did not appear at the trial in these
cases and did not execute the stipulation of facts or the
supplemental stipulation of facts. Respondent filed a motion to
dismiss the cases with respect to Mrs. Wood for failure to
properly prosecute. The Court will grant respondent’s motion and
will dismiss these cases as to her. See Rule 123(b).
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Last modified: May 25, 2011