Learn More About a 1031 Investment
February 27th, 2008 . by adminThe idea of similarities and the concept of “like kind” properties will be encountered often when it comes to a 1031 investment . Real properties will have to be exchanged with real properties. Personal properties have to be exchanged for personal property, where applicable. The term “like kind” has led to a very wide number of loopholes that could be exploited. For example, domestic animals of different genders or even different breeds are not considered “like kinds”. Properties within and outside the United States are not likewise considered to be equivalent. It is absolutely necessary that you do your homework and get the best possible legal team that you could afford if you want to be able to fully exploit this kind of tax protection.
