Posted by Charles- DFW on March 12, 1999 at 22:58:44:
Please send me the file.
Thanks,
Charles,
ch521@flash.net
The Belden vs. Tax Court Decision - Posted by Bill Gatten
Posted by Bill Gatten on March 12, 1999 at 19:02:30:
On several occasions in my posts, I’ve referred to the Belden vs. the U.S. Tax Courts decision. It has to do with a federal case wherein full tax benefits were granted to a property’s occupant who qualified under sec 163, but had no title interest and was not directly obligated on the mortgage loan (neither the title nor the loan was in his name; ergo the write-off was initially denied, but was reversed big-time when he sued). It’s pretty much a land mark case relative to Lease Purchases, Land Contracts and the like, wherein a buyer has no title and is not on the loan but tends to meet all other requirements of IRC 163.
For those who asked where and how to find it, just drop me a line and I’ll e-mail it to you (it’s in Word Format and is pretty lengthy, but can be sent embedded in the post or as a file attachment).
Bill