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The Treatment of Cancellation of Indebtedness Income of Insolvent S Corporations, Gitlitz v. Commissioner: A Tax Controversy or an Example of the Effects of Judicial Decision-making, Houston Business and Tax Law Journal
Tommy Overton Gives to UH Law Center eBriefcase Vol I, No. 2
Learning to Like Like-Kind Exchanges: Tax planning strategies can grow the value of your real estate portfolio, Abode, April 2002
Recent Litigation related to Quantum Resources Management, L.L.C. v. Pirate Lake Oil Corporation:
Quantum Res. Mgmt., L.L.C. v. Pirate Lake Oil Corp., 14-687 (La.App. 5 Cir. 4/15/2015);_So.3d_. The Supreme Court of the United States denied writs related to the application of Mennonite, and the parties filed motions for summary judgment. The trial court granted summary judgment for the Mayronne Group. The trial court found Waterman v. Tidewater Assoc. Oil Co., 213 La. 588 (1947) controlled and that any concerns of the Supreme Court of Louisiana related to title gaps and possession were cured. The Court affirmed and found that the 1925 tax sale was an absolute nullity under Waterman.
Quantum Res. Mgmt., L.L.C. v. Pirate Lake Oil Corp., (La. 3/19/13); 112 So.3d 209. The Supreme Court of Louisiana concluded that Mennonite could not apply retroactively to have the 1925 tax sale declared an absolute nullity. The Court found Gulotta v. Cutshaw, 283 So.2d 482 (La. 1973) dispositive of the lack of notice issue. Under Gulotta, lack of notice to the record owner in a tax sale is a relative nullity. A relative nullity does not prevent the running peremptive period; and, therefore, could not be a valid basis for summary judgment invalidating the tax sale.
Quantum Res. Mgmt., L.L.C. v. Pirate Lake Oil Corp., (La.App. 5 Cir. 5/31/12); 98 So.3d 394. The Court affirmed the decision of the trial court granting the Mayronne Group's summary judgment dismissing the Zodiac Group's claims because there was no evidence that the Sheriff gave notice of the 1925 tax sale to the record owner. The Court held that the lack of notice was a violation of constitutional due process notice requirements that rendered the 1925 sale an absolute nullity under Mennonite Board of Missions v. Adams, 462 U.S. 791, (1983).











  Last updated April 20, 2015.  

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