Ronald B. and Annette C. Talmage - Page 66




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              C.   Loans for Petitioner’s Family Support Obligations                  
              Petitioner contends that NCPL lent him $12,000, $8,760, and             
         $181,765 in 2000, 2001, 2002, respectively, to pay his spousal and           
         child support obligations and the interest owing on the $1,400,000           
         divorce settlement.                                                          
              With respect to this purported loan, the record discloses:              
         (1) No promissory note or other instrument was executed; (2) no              
         collateral was pledged to secure repayment; (4) there was no fixed           
         schedule for repayment; (4) as determined above, it was not                  
         reasonable to expect at the time the funds were advanced                     
         petitioner could repay them; (5) no interest was charged or paid;            
         and (6) petitioner did not intend at the time the funds were                 
         advanced to make any payments.                                               
              Petitioner testified that his employer paid his family                  
         support obligations because the divorce was a very difficult time            
         in petitioner’s life.  According to petitioner, his employer                 
         assured him that he could pay the money back at an “appropriate              
         time in the future”.  Petitioner had previously written in                   
         response to Agents Rans’s inquiries that the family support                  
         obligations were paid by NCPL to purchase Kumiko Talmage’s equity            
         in the Rivercliff property.                                                  
              Petitioner has failed to meet his burden of proving that the            
         funds advanced for his family support obligations of $12,000,                
         $8,760, and $181,765 in 2000, 2001, 2002, respectively,                      







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