Rosenberg Inv. & Realty Trust v. Commissioner
United States Board of Tax Appeals
No merger of leasehold estate with the fee results where there is an intervening estate in the leasehold in a third person, and petitioner is entitled to amortize the cost of the leasehold, notwithstanding it is the owner of the fee and owns the lease subject to the outstanding rights of such third person.
1Opinion of the Court
*1056OPINION.
ÁRNOld:
Despite the complicated nature of the facts herein, this proceeding presents a question which can be stated in simple terms, namely, whether there has been such a merger of estates as to deprive the petitioner of the right to amortize the cost of its leasehold. Briefly stated, the question arises by virtue of a lease of the Mann property to the S. Rosenbaum Co., whose interest was thereafter *1057acquired by Viola B. Rosenbaum. Viola B. Rosenbaum subleased to Trust No. 160, and tbe latter subleased to Wieboldt’s, thus completing the chain of title as to the leasehold estates. After…
2Cases cited4 opinions
- Sexton v. Chicago Storage Co.Illinois Supreme Court · 1889
- Indian Refining Co. v. Mary G. RobertsIndiana Court of Appeals · 1932
- Consolidated Coach Corp. v. Consolidated Realty Co.Court of Appeals of Kentucky (pre-1976) · 1933
- Talcott v. DraperIllinois Supreme Court · 1871
3Cited by1 opinion
- Rosenberg Inv. & Realty Trust v. CommissionerUnited States Board of Tax Appeals · 1938