Fair v. Commissioner
United States Tax Court
Petitioners, the owners of a commercial lot with a 2-story building thereon located in Tyler, Texas, conveyed, without consideration, to the Foundation, a charitable corporation, the perpetual right to build, own, and maintain 5 additional stories on the existing 2-story building, plus the rights of access and support.
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Petitioners, the owners of a commercial lot with a 2-story building thereon located in Tyler, Texas, conveyed, without consideration, to the Foundation, a charitable corporation, the perpetual right to build, own, and maintain 5 additional stories on the existing 2-story building, plus the rights of access and support. In the event of destruction of the 2-story building the petitioners did not obligate themselves to rebuild it, but if they did elect to rebuild, the Foundation would also have the right to rebuild. The petitioners claimed a charitable contribution of $ 70,000 for the rights and…
1Opinion of the Court
OPINION.
Black, Judge:
The petitioners, the owners of a commercial lot with a 2-story building thereon, conveyed, without consideration, to the Foundation, a charitable corporation, the perpetual right to build, own, and maintain 5 additional stories on the existing 2-story building, plus the right to the exclusive use of a portion of the existing 2-story building to be used as an entrance, lobby, stairway, and elevator shafts. The petitioners agreed to do nothing to weaken the support of the upper 5 stories. In the event of destruction of the 2-story building, the petitioners did not obligate…
2Cases cited6 opinions
- Nashville, Chattanooga & St. Louis Railway Co. v. WallaceSupreme Court of the United States · 1933
- Humphreys-Mexia Co. v. GammonTexas Supreme Court · 1923
- Piper v. EkernWisconsin Supreme Court · 1923
- Cleveland v. City of DetroitMichigan Supreme Court · 1948
- Pearson v. MathesonSupreme Court of South Carolina · 1915
1 more not listed; retrieve them via the Exa API.
3Cited by19 opinions
- John Herbert Orr and Elizabeth G. Orr v. United StatesCourt of Appeals for the Fifth Circuit · 1965
- The Citizens Bank of Weston v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1958
- Thriftimart, Inc. v. CommissionerUnited States Tax Court · 1973
- Passailaigue v. United StatesDistrict Court, M.D. Georgia · 1963
- Burroughs Corp. v. CommissionerUnited States Tax Court · 1959
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