In re the Estate of Klauber

Joseph A. Cox, S.

This is an appeal by the executor from the pro forma order of this court dated September 6,1957, fixing the estate tax on the appraiser’s report. It is claimed that the appraiser erroneously valued decedent’s one-half interest in a parcel of real property known as No. 134-6 Spring Street, New York City.

Decedent died on May 18, 1953. The property was then incumbered by a first mortgage indebtedness of $86,903.30. The executor and the co-owner sold the premises to a third party on November 24, 1953 for a total price of $215,000. The terms of the sale provided for payment of…