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What amount would be included in sergio estate

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Reference no: EM132928956

Problem 1: Many years ago James and Sergio purchased property for $675,000. Although they are listed as equal co-owners, Sergio was able to provide only $300,000 of the purchase price. James treated the additional $37,500 of his contribution to the purchase price as a gift to Sergio. If the property is worth $1,012,500 at Sergio's death, what amount would be included in Sergio's estate if the title to the property was tenants in common? What if the title was joint tenancy with right of survivorship?

Reference no: EM132928956

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