MTR OF EPSTEIN v. TAX COMM


89 A.D.2d 256 (1982)

In the Matter of Edwin E. Epstein et al., as Executors of Mildred Rapoport, Deceased, et al., Appellants, v. State Tax Commission, Respondent

Appellate Division of the Supreme Court of the State of New York, Third Department.

November 4, 1982


Attorney(s) appearing for the Case

Parker, Chapin, Flattau & Klimpl (Howard S. Denburg of counsel), for petitioners.

Robert Abrams, Attorney General (Wayne L. Benjamin and William J. Kogan of counsel), for respondent.

SWEENEY, J. P., KANE, CASEY and WEISS, JJ., concur.


LEVINE, J.

The deceased taxpayers, George and Mildred Rapoport, were legal residents of the State of Florida during the taxable years in question. In 1969, they sold an apartment building consisting of 140 units located in Flushing, New York, and took back a purchase-money second mortgage for the unpaid balance of the purchase price. The mortgage note provided for interest at the rate of 6% per annum and quarterly payments of principal and interest commencing...

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