What Is 1031? also referred to as a 1031 Exchange or Like-Kind Exchange, and falls under Section 1031 of the Internal Revenue Code. This tax section deals with property value in sale of business or trades and other like sales. Contact us to get your property exchange prepared & filed by a qualified
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ยง 1031. Exchange of property held for productive use or investment...Read more law >
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Although not really a technical term, the word "boot" is used frequently in the world of Section 1031.
Boot is another way of saying a property is not "Like-Kind".
1031 Related News
Equastone Acquires Office Project For $35 Million
The acquisition of The Views by an affiliate of Equastone Value Fund I completes a 1031 tax-deferred exchange of the proceeds from the recent sale of The Quad at Lowry IV
Definition:
A written document conveying title to property repossessed by the government due to default on tax payments.
Tax Base
Definition:
Assessed valuation of real property, which is multiplied by the tax rate to determine the amount of tax due.
Tax Roll
Definition:
A list containing the descriptions of all parcels in the county, the names of the owners (or those receiving the tax bill), assessed values and tax amounts.