Summary
In Tubbs the decedent had, five years before her death, conveyed 480 acres from a 1,293 acre tract which she owned, to her daughter for a recited consideration of $10. The deed was subsequently recorded. From the time the deed was executed, the decedent continued to receive the entire income from the property, including oil and gas and crop rentals.
Summary of this case from Estate of Whitt v. C.I.ROpinion
No. 72-3232. Summary Calendar.
Rule 18, 5th Cir.; see Isbell Enterprises, Inc. v. Citizens Casualty Co. of New York et al., 5th Cir. 1970, 431 F.2d 409, Part I.
January 15, 1973. Rehearing Denied February 16, 1973.
Hugh Anderson, John Russell Crews, Lubbock, Tex., for plaintiff-appellant.
Frank D. McCown, U.S. Atty., William W. Guild, Tax Div., Dept. of Justice, Dallas, Tex., Scott P. Crampton, Asst. Atty. Gen., Meyer Rothwacks, Atty., Tax. Div., Dept. of Justice, Washington, D.C., Eldon B. Mahon, U.S. Atty., Fort Worth, Tex., for defendant-appellee.
Appeal from the United States District Court for the Northern District of Texas.
Before THORNBERRY, COLEMAN and INGRAHAM, Circuit Judges.
The facts in this estate tax refund suit are well summarized in the district court's opinion, 348 F. Supp. 1404. Those facts establish conclusively the existence of an implied agreement that the transferor was to have lifetime enjoyment of the property. Guynn v. United States, 4th Cir. 1971, 437 F.2d 1148. Thus, the value of the property was properly includible in the transferor's estate, and the district court properly directed a verdict in appellee's favor. Affirmed.