First Security Bank v. Geels

RAYMOND R. ABRAMSON, Judge.

I,This appeal involves a dispute over the title to 486 acres in Crawford County, Arkansas. The property in dispute was purchased in October 2002 for $916,000 using funds from a family painting business. The business was operated loosely as a subchapter S-corporation with money frequently being distributed to family members without documentation or tax reporting.1 Appellee, Steven Geels, Jr. (Jr.), owned 25% of the business; his father, Steven Geels, Sr. (Sr.),2 owned 51%; and his mother, Patricia Geels (Patricia), owned 24%.

12At the time of the purchase, the…