Gulf American Land Corp. v. Green

CARROLL, DONALD K., Chief Judge.

The plaintiff in a suit for declaratory decree has appealed from a final decree entered by the Circuit Court for Leon County declaring that certain sales contracts for deed are subject to the state documentary tax.

The plaintiff corporation is engaged in the' business of developing and selling building lots on a large scale at moderate prices in an area known as Cape Coral in Florida. Most of the lots are sold under long-term payment plans.

The marketing plan adopted by the plaintiff contemplates the execution of three documents. The first is an “agreement for…