In State ex rel. Palmer-Florida Corp. v. Green, 88 So. 2d 493 (Fla. 1956), a corporation delivered a deed to property it owned to its shareholders in proportion to their shares in the corporation. The corporation argued that the transfer should not be subject to the documentary stamp tax because the shareholders had given nothing in exchange for the property. Id. at 494. The Court agreed and held that under the statute, the shareholders were not purchasers; the transaction had not involved any form of consideration; and thus the transaction was not subject to the documentary stamp tax. Id. at 495. The transaction was termed "a mere book transaction" and was "in no sense a sale to a 'purchaser' as contemplated by" the statute. Id.