Mississippi Supreme Court
Cullicutt v. Pro. Services of Potts Camp
December 13, 2007974 So. 2d 216
Summary
The court affirmed summary judgment for Taylor and Professional Services because Callicutt acquired the property primarily for resale, making the transaction ineligible for tax-deferred treatment regardless of Taylor's conduct. Consequently, the claimed tax liability, lost future income, penalties, interest, and borrowing costs were not recoverable from Taylor, and the record did not establish a fiduciary relationship or duty. The court also held that Callicutt could not create a genuine factual dispute through an affidavit contradicting his prior deposition testimony without explanation.
Holding
- Whether the claimed tax, lost-income, penalty, interest, and borrowing damages were caused by Taylor's conduct.. Callicutt could not recover the claimed damages because he held the property primarily for sale and therefore the transaction was ineligible for tax-deferred treatment regardless of Taylor's actions or inactions. The tax liability and lost future income were not caused by Taylor, and the penalties, interest, and borrowing costs likewise could not be attributed to Taylor on this record.
- Whether Taylor owed Callicutt a fiduciary duty or other actionable duty.. The trial court correctly determined that Taylor owed Callicutt no fiduciary duty in connection with the failed exchange. The evidence did not establish that Taylor exercised dominion or control over Callicutt, that she or her business held themselves out as tax or exchange experts, or that their dealings created the kind of dependency or trust necessary for a fiduciary relationship.
- Whether Callicutt's later affidavit created a genuine issue of material fact concerning his intent.. Callicutt could not defeat summary judgment by submitting an affidavit that directly contradicted his earlier deposition testimony and the written contract, without explanation. The existing evidence established his intent to resell the property and left no genuine factual issue for trial on that point.
Docket 2006-CA-00706-SCT
Cited authorities
- Miss. R. Civ. P. 56(c)
- 26 U.S.C. § 1031
Cited by
- Carl Patterson, Jr. v. T.l. Wallace Construction, Inc. and Turtle Creek Development, Inc.
- Kenneth D. McDuff, Jr., Appellant v. Teresa B. McDuff, Appellee
- Franklin Mem. Hosp. v. Ms. Farm Bureau Ins.
- Franklin Mem. Hosp. v. Ms. Farm Bureau Ins.
- Frances Spann v. Shuqualak Lumber Co., Inc.
- Green Realty Management Corporation v. Mississippi Transportation Commission
- Leroy Calvert, Jr. v. Brian D. Griggs
- Barthel D. Waggoner v. Edward A. Williamson