Ashforth v. Commissioner
United States Board of Tax Appeals
More than two years prior to death, and not in contemplation of death, decedent executed and delivered to her husband, without monetary consideration, a mortgage for $700,000 on certain real estate situated in the State of Connecticut.
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More than two years prior to death, and not in contemplation of death, decedent executed and delivered to her husband, without monetary consideration, a mortgage for $700,000 on certain real estate situated in the State of Connecticut. Held, the interest of decedent in the property, under the law of Connecticut, which is required to be included in the value of her gross estate by section 302(a) of the Revenue Act of 1926, is the full value of the land at the date of decedent's death. Held, further, that, the mortgage not having been contracted for an adequate and full consideration in money…
1Dissent
Trammell,
dissenting: I am unable to agree with the conclusion reached in the majority opinion for the reason that if a valid, completed gift of the mortgage in question was made by the decedent to her husband prior to death and not in contemplation of death, *1313then the result is to construe the statute as requiring the inclusion in the gross estate of the value of property which did not belong to the decedent ,at the time of her death and was not transferred or affected thereby.
This case presents two fundamental questions, namely (1) whether or not the execution and delivery of the note and…
2Cases cited21 opinions
- Nichols v. CoolidgeSupreme Court of the United States · 1927
- Tyler v. United StatesSupreme Court of the United States · 1930
- Morris v. . PattersonSupreme Court of North Carolina · 1920
- Acker v. . PridgenSupreme Court of North Carolina · 1912
- Colt v. McConnellIndiana Supreme Court · 1888
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