Sheets v. Commissioner
United States Board of Tax Appeals
The decedent, with a view of adjusting property rights with his wife as the result of a divorce action filed against him, assigned a portion of his personal property to a third person, who transferred it to the decedent and his wife as joint tenants.
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The decedent, with a view of adjusting property rights with his wife as the result of a divorce action filed against him, assigned a portion of his personal property to a third person, who transferred it to the decedent and his wife as joint tenants. In an agreement entered into a short time thereafter, the wife gave the decedent the right to the income from the jointly owned property so long as he paid her $250 per month for household expenses, and he agreed not to convey his interest in the estate without the consent of his wife. The wife also waived her dower rights in the estate of the…
1Opinion of the Court
*223OPINION.
Disney:
The respondent contends that the full value of the property in question should be included in the gross estate as property held by the decedent and his wife as joint tenants within the meaning of section 302 (e) of the Revenue Act of 1926.1 The petitioners contend that the property was not held by joint tenancy; that if the property was so held, it is not subject to tax because it was acquired by the wife for a full and adequate consideration in money or money’s worth; that section 804 of the Revenue Act of 1982,2 adding a new provision to section 303 (d) of the 1926 Act, may…
2Cases cited12 opinions
- Marrow v. MoskowitzNew York Court of Appeals · 1931
- In Re the Estate of PoriandaNew York Court of Appeals · 1931
- Ward v. Ward's HeirsWest Virginia Supreme Court · 1895
- State Street Trust Co. v. Treasurer & Receiver GeneralMassachusetts Supreme Judicial Court · 1911
- Ferguson v. DicksonCourt of Appeals for the Third Circuit · 1924
7 more not listed; retrieve them via the Exa API.
3Cited by3 opinions
- Sheets v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1938
- Housman v. CommissionerUnited States Board of Tax Appeals · 1938
- Sheets v. CommissionerUnited States Board of Tax Appeals · 1936