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trout's tools > real estate glossary |
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| 1031 Exchange |
| Also known as a tax deferred exchange, the Internal Revenue Code Section 1031 provides that no gain or loss will be recognized (taxed) on the exchange of any type of business use or investment property for any other business use or investment property. Buyers and sellers must work with a qualified intermediary who specializes in section 1031 tax deferred exchanges to insure strict compliance with IRS regulations. |
Trout Daniel & Associates thanks costar (www.costar.com) for permission to use many of the glossary terms and definitions on this page. |
