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The regulations specify that "all real estate is like-kind to all real estate". Therefore, if you are offering a real estate interest (anything that you have cost title to) you can search for any type of genuine residential or commercial property as a replacement residential or commercial property. There is a two-pronged test for properties to qualify for IRC 1031 tax-deferral treatment.

The Exchanger's purpose and intent in holding the residential or commercial property is the critical test. Using the residential or commercial property by other parties to the exchange (Relinquished Home purchaser or Replacement Property seller) is irrelevant. The Relinquished and the Replacement Characteristics must likewise be "like-kind." The term "like-kind" refers to the nature or character of the residential or commercial property, ignoring differences of grade or quality.

Treas. Reg. 1. 1031( a) -1( b). In essence, all real estate in the United States is "like-kind" to all other domestic real estate. IRC 1031( a)( 2) particularly provides that real estate held primarily for sale does not get approved for tax deferment under area 1031. Following are examples of qualifying properties that could be exchanged: Raw land or farmland for improved realty, Oil & gas royalties for a cattle ranch, Cost simple interest in real estate for a 30-year leasehold or a Tenant-in-Common interest in realty, Residential, Commercial, Industrial or Retail rental residential or commercial properties for any other property, Rental ski apartment for a three-unit home structure, Mitigation credits for bring back wetlands for other mitigation credits, Under IRC 1031, the following homes for tax-deferred exchange treatment: Stock in trade or other property held mainly for sale (i.

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residential or commercial property held by a designer, "flipper" or other dealership) Securities or other proofs of indebtedness or interest, Stocks, bonds, or notes, Certificates of trust or advantageous interests, Interests in a collaboration, Choses in action (rights to get cash or other home by judicial case) Foreign genuine residential or commercial property for U.S. genuine residential or commercial property, Goodwill of one organization for goodwill of another organization.

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