In re the Estate of Monaco

Lindley and Sconiers, JJ.

(dissenting). We respectfully dissent. At issue in this proceeding is a single-family residence (hereafter, property) purchased by petitioner’s father (decedent) in 1996 for $98,500. Although the deed to the property was in decedent’s name alone, there is no dispute that petitioner resided there continuously since the property was purchased. Decedent and his wife lived elsewhere. Decedent paid $20,000 in cash at closing for the property and financed the rest of the purchase price with a mortgage. Petitioner alleges that he gave decedent the money for the down payment…