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For real estate transactions under Section 1031 of the Internal Revenue Code, where capital gains taxes can be deferred, the term “like-kind” is used to define the properties that can be exchanged. Like-kind is essentially saying that the two properties being exchanged are of the same nature or kind, but do not have to be[…] Read More

In 1921, 1031 tax-deferred exchanges were introduced as part of the USA’s tax law. Years later, a large number of misconceptions still surrounds it even though tax-deferred exchanges are prevalent in real estate today. While this system was introduced to encourage tax savings, the deeply rooted misconceptions often end up derailing an exchange, or limiting[…] Read More