Nader v. Commissioner
United States Tax Court
Held, that the fair market value of certain unimproved realty which was transferred to the petitioner by his brother-in-law and sister-in-law for $11,500, was not less than $35,000. Held, further, that said transfer was made when the transferors were insolvent and heavily indebted to the Government for unpaid income taxes, and was without adequate consideration; and that petitioner is liable as a transferee to the extent of the excess of the fair market value of the property…
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Held, that the fair market value of certain unimproved realty which was transferred to the petitioner by his brother-in-law and sister-in-law for $11,500, was not less than $35,000. Held, further, that said transfer was made when the transferors were insolvent and heavily indebted to the Government for unpaid income taxes, and was without adequate consideration; and that petitioner is liable as a transferee to the extent of the excess of the fair market value of the property over the consideration which he paid therefor.
1Opinion of the Court
Bechara Nader, Transferee v. Commissioner.
Nader v. Commissioner
Docket No. 71470.
United States Tax Court
T.C. Memo 1962-156; 1962 Tax Ct. Memo LEXIS 155; 21 T.C.M. (CCH) 867; T.C.M. (RIA) 62156;
June 26, 1962
Held, that the fair market value of certain unimproved realty which was transferred to the petitioner by his brother-in-law and sister-in-law for $11,500, was not less than $35,000. Held, further, that said transfer was made when the transferors were insolvent and heavily indebted to the Government for unpaid income taxes, and was without adequate consideration; and that petitioner is liable…
2Cases cited10 opinions
- Commissioner v. SternSupreme Court of the United States · 1958
- Bartmer Automatic Self Service Laundry, Inc. v. CommissionerUnited States Tax Court · 1960
- Steel or Bronze Piston Ring Corp. v. CommissionerUnited States Tax Court · 1949
- Bowlin v. Comm'rUnited States Tax Court · 1958
- Ann W. Bowlin v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1960
5 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Bechara Nader, Transferee v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1963