Creative Ways to Put Off the Inevitable

By: Tom Muller

Like-kind exchanges under Section 1031 of the Internal Revenue Code are an excellent way to defer recognition of taxable gain on the sale of real property.   

In these transactions, a seller of real property assigns the purchase agreement to an exchange accommodator before the closing, and the accommodator sells the property and retains the sale proceeds to use to buy a replacement property for the seller.

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pursuant to New York DR 2-101(f)

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