Touche v. Commissioner
United States Tax Court
In 1966 petitioner purportedly transferred by deed of gift a 5.25-percent interest in certain property to each of four donees and in 1967 she purportedly transferred a 2.1-percent interest in such property in the same fashion. In preparing the deeds of gift, petitioner's attorney made a mistake in calculating the percentage interest to be transferred. At the time of such deeds of gift, petitioner intended to transfer only one-half of the aforementioned percentage interests.
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In 1966 petitioner purportedly transferred by deed of gift a 5.25-percent interest in certain property to each of four donees and in 1967 she purportedly transferred a 2.1-percent interest in such property in the same fashion. In preparing the deeds of gift, petitioner's attorney made a mistake in calculating the percentage interest to be transferred. At the time of such deeds of gift, petitioner intended to transfer only one-half of the aforementioned percentage interests. Held, under Texas law, by virtue of petitioner's unilateral mistake, she transferred only bare legal title to one-half…
1Opinion of the Court
Margarita Touche, Petitioner v. Commissioner of Internal Revenue, Respondent
Touche v. Commissioner
Docket No. 4462-70
United States Tax Court
58 T.C. 565; 1972 U.S. Tax Ct. LEXIS 95;
June 29, 1972, Filed
Decision will be entered for the petitioner.
In 1966 petitioner purportedly transferred by deed of gift a 5.25-percent interest in certain property to each of four donees and in 1967 she purportedly transferred a 2.1-percent interest in such property in the same fashion. In preparing the deeds of gift, petitioner's attorney made a mistake in calculating the percentage interest to be transferred. At…
2Cases cited10 opinions
- Burnet v. GuggenheimSupreme Court of the United States · 1933
- Arnold Van Den Wymelenberg, as of the Estate of Eleanor Van Den Wymelenberg, and Arnold Van Den Wymelenberg v. United StatesCourt of Appeals for the Seventh Circuit · 1968
- Nina N. Dodge, Also Known as Nina N. (Dodge) Cullinan v. United StatesCourt of Appeals for the Fifth Circuit · 1969
- Grundy v. GreeneCourt of Appeals of Texas · 1918
- Era Davis Harris v. Commissioner of Internal Revenue, Fay Davis Clarke v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1972
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