Hunt v. Commissioner
United States Tax Court
Community property consisting of ranch land in Texas was divided into two halves by husband and wife in order to make possible the procurement of a large loan on the property involved. The north half was deeded by the husband and wife to a trustee and by the trustee deeded back to the husband; and the south half was deeded to the wife directly by the husband. Each grantee agreed to pay the unpaid balance on the existing indebtedness against the land.
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Community property consisting of ranch land in Texas was divided into two halves by husband and wife in order to make possible the procurement of a large loan on the property involved. The north half was deeded by the husband and wife to a trustee and by the trustee deeded back to the husband; and the south half was deeded to the wife directly by the husband. Each grantee agreed to pay the unpaid balance on the existing indebtedness against the land. The anticipated loan was procured and the community indebtedness against the land was paid off. Thereafter the husband continued to manage and…
1Opinion of the Court
Estate of E. W. Hunt, Deceased, Viola Hunt, Executrix, Petitioner, v. Commissioner of Internal Revenue, Respondent
Hunt v. Commissioner
Docket No. 12659
United States Tax Court
11 T.C. 984; 1948 U.S. Tax Ct. LEXIS 17;
December 6, 1948, Promulgated
Decision will be entered under Rule 50.
Community property consisting of ranch land in Texas was divided into two halves by husband and wife in order to make possible the procurement of a large loan on the property involved. The north half was deeded by the husband and wife to a trustee and by the trustee deeded back to the husband; and the south half was…
Also in this document: Dissent.
2Cases cited13 opinions
- Arnold v. LeonardTexas Supreme Court · 1925
- Kellett v. TriceTexas Supreme Court · 1902
- Emery v. BarfieldCourt of Appeals of Texas · 1913
- Cauble v. Beaver-Electra Refining Co.Texas Supreme Court · 1925
- Taylor v. HollingsworthTexas Supreme Court · 1943
8 more not listed; retrieve them via the Exa API.