I understand why you are confused, Larry! The explanation is that the “Rollag Bygdebok” is mixing two different generations – grandfather and grandson – with identical names and both having a daughter named Margit Høljesdatter.
The first known generation at Fulsås Nordre is Reidar Høljesson Fulsås, mentioned between 1560 and 1593, and had passed away before 1600. Two known children, Knut and Hølje. Wife unknown. He had a brother, Torgeir, and it’s likely that Fulsås Nordre was inherited through their mother.
Second generation is his son Hølje Reidarsson Fulsås who died between 1624 and 1626. He was your Margit’s father. She must have been his youngest child, born just before or even after his death. My estimate is that she was born in 1625 +/- one year. The following years a Margit paid the taxes, probably Hølje’s widow and Margit Høljesdatter’s mother.
In 1631 the farm was taken over by a new Reidar Høljesson Fulsås, probably his parents’ eldest son. Wife unknown, 3 known children: Hølje (born abt. 1634), Halvor (born abt. 1642) and a daughter. He died abt. 1645.
His eldest son Hølje Reidarsson Fulsås took over the farm abt. 1660. He was still alive in 1664 but died shortly thereafter. Wife unknown, 3 children grew up: Reidar, Margit and Ingeborg. It was these children who were in the custody of their uncle Halvor.
Unfortunately, the “Rollag Bygdebok” contains a lot of this type errors and mistakes. The reason is that the text is based on the research of a number of persons, and that several misunderstandings happened when longer manuscripts were shortened to the text in the printed books.