Weish Homes, Inc. v. Commissioner
United States Tax Court
Petitioner, as owner in fee simple of unimproved land situated in Maryland, subdivided it into lots with the intention of building houses thereon. Upon finding a customer for the lot and house to be erected thereon, petitioner entered into a contract of sale with him which specified that the sale was subject to a ground rent.
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Petitioner, as owner in fee simple of unimproved land situated in Maryland, subdivided it into lots with the intention of building houses thereon. Upon finding a customer for the lot and house to be erected thereon, petitioner entered into a contract of sale with him which specified that the sale was subject to a ground rent. At or about the time of the completion of the house, petitioner entered into, with a straw corporation, a lease covering the lot and the improvements thereon for a term of 99 years, renewable forever, subject to a specified, annual ground rent. At the time of settlement,…
1Opinion of the Court
Welsh Homes, Incorporated, Petitioner, v. Commissioner of Internal Revenue, Respondent
Weish Homes, Inc. v. Commissioner
Docket No. 69035
United States Tax Court
32 T.C. 239; 1959 U.S. Tax Ct. LEXIS 181;
April 29, 1959, Filed
Decision will be entered under Rule 50.
Petitioner, as owner in fee simple of unimproved land situated in Maryland, subdivided it into lots with the intention of building houses thereon. Upon finding a customer for the lot and house to be erected thereon, petitioner entered into a contract of sale with him which specified that the sale was subject to a ground rent. At or about…
2Cases cited13 opinions
- Morris Lipsitz, and Morris Lipsitz and Helen Lipsitz v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1955
- United Dressed Beef Co. v. CommissionerUnited States Tax Court · 1955
- Mary Lucinda Bosley v. Margaret E. WyattSupreme Court of the United States · 1853
- Kolker v. BiggsCourt of Appeals of Maryland · 2001
- Weish Homes, Inc. v. CommissionerUnited States Tax Court · 1959
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