Pursuant to IRC §1031, capital gain tax deferment requires the exchange of "like-kind" relinquished property for other "like-kind" replacement property. Contrary to the commonly held misconception that exchanged properties must be of the exact same type - for example, that bare land be exchanged for bare land or an income property be exchanged for another income property - the actual definition of "like-kind" is far more empowering in its flexibility. Any real property held for investment or real property used in a trade or business can be exchanged for any other real property held for investment or real property used in a trade or business.

WHAT'S THE FIRST STEP?

IRN Realty does not provide tax or legal advice. Investors should always seek the advice of their tax and/or legal advisors regarding their specific situation.

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TOM ANDROS
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