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farm acreage, and the farm acreage thereafter has remained in the
hands of Richard’s daughters. With respect to his interest in
the farm acreage, from the $45,892 consideration received,
Richard received value or benefit of only $15,892 (relating to
Richard’s relief on the $12,589 mortgage liability and payment of
the $3,303 in overdue real estate taxes).
The disparate amounts received by Richard and Marilou for
their equal one-half interests in the farm acreage, among other
things, establish that Richard did not receive fair market value
for the transfer of his one-half interest in the farm acreage.
With regard to the residence acreage (which, as explained
infra p. 24, both parties value at $16,984), the September 1998
warranty deed under which Richard transferred to Carrie his one-
half interest in the residence acreage was made with no
consideration received by Richard and with the obvious purpose of
removing Richard’s name from the property in order to keep the
property within the family and beyond the reach of respondent’s
collection authority.
As of September of 1998, the fair market value of the 20-
acre carve out was $20,000, and the fair market value of
Richard’s one-half interest therein was $10,000.
The preponderance of the evidence establishes that Richard’s
ownership interests in the farm acreage and in the residence
acreage constituted Richard’s only significant assets and that
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