Real Estate Exchange

A tax-free or tax-deferred exchange of similar properties, permitted under Section 1031 of the Internal Revenue Code. As there is no sale, no capital gains are assessed unless one of the parties receives boot--or cash consideration--in addition to the property received in the exchange. The capital gains taxes are essentially deferred until the new owner sells the property for cash or like consideration. The most common types are multiple exchanges or Starker exchanges. For more information, see the "All About Capital Gains: Tax-Free Exchanges" article in the "Real Estate Investing" section.

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