Estate of Nicol v. Commissioner
United States Tax Court
In 1962, decedent, then 77 years of age, rented her farm to her daughter and son-in-law under a 5-year crop-share lease which was to remain in effect even if the farm was later conveyed to the daughter. Eleven days later, decedent transferred the farm to her daughter by general warranty deed.
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In 1962, decedent, then 77 years of age, rented her farm to her daughter and son-in-law under a 5-year crop-share lease which was to remain in effect even if the farm was later conveyed to the daughter. Eleven days later, decedent transferred the farm to her daughter by general warranty deed. Decedent continued to receive the rents until she died in 1965. Held, the value of the farm is includable in decedent's taxable estate under sec. 2036(a)(1); decedent retained the enjoyment of the income from the farm for a period which did not in fact end before her death.
1Opinion of the Court
Estate of Marie J. Nicol, Deceased, Nancy N. Davis, Executrix, Petitioner v. Commissioner of Internal Revenue, Respondent
Estate of Nicol v. Commissioner
Docket No. 3486-69
United States Tax Court
56 T.C. 179; 1971 U.S. Tax Ct. LEXIS 140;
April 27, 1971, Filed
Decision will be entered under Rule 50.
In 1962, decedent, then 77 years of age, rented her farm to her daughter and son-in-law under a 5-year crop-share lease which was to remain in effect even if the farm was later conveyed to the daughter. Eleven days later, decedent transferred the farm to her daughter by general warranty deed. Decedent…
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