Trustees of Series Q v. Commissioner
United States Tax Court
The business and assets of the insolvent New York Title & Mortgage Co., which had sold over $ 700,000,000 face value guaranteed first mortgage certificates in series, each series being secured by a mortgage or mortgages, were taken over in 1933 by the Superintendent of Insurance of New York as statutory receiver.
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The business and assets of the insolvent New York Title & Mortgage Co., which had sold over $ 700,000,000 face value guaranteed first mortgage certificates in series, each series being secured by a mortgage or mortgages, were taken over in 1933 by the Superintendent of Insurance of New York as statutory receiver. Under the Schackno Act (legislation enacted to alleviate economic disaster and to protect the great number of certificate holders of title and mortgage companies in financial difficulties) series Q and series F-1 trusts were in 1935, with the consent of certificate holders, created…
1Opinion of the Court
Trustees of Series Q, Group Certificates of New York Title and Mortgage Company, Petitioner, v. Commissioner of Internal Revenue, Respondent. Trustees of Series F-1, Group Certificates of New York Title and Mortgage Company, Petitioner, v. Commissioner of Internal Revenue, Respondent
Trustees of Series Q v. Commissioner
Docket Nos. 111983, 111984, 111985
United States Tax Court
2 T.C. 990; 1943 U.S. Tax Ct. LEXIS 28;
November 17, 1943, Promulgated
Decision will be entered under Rule 50.
The business and assets of the insolvent New York Title & Mortgage Co., which had sold over $ 700,000,000 face…
2Cases cited1 opinion
- Trustees of Series Q v. CommissionerUnited States Tax Court · 1943