Section 1031 Alchemy: Transforming Personal Tangible and Intangible Property into Real Property
Kelly E. Alton
Nationwide Exchange Services
Bradley T. Borden
Brooklyn Law School
Real Estate Taxation, Vol. 34, p. 52, 1st Quarter 2007
Section 1031 nonrecognition applies only to exchanges of like-kind properties. Although real property generally is not like kind to personal property or intangible property, case law reveals that personal property and intangible property can be combined with certain real property interests and become like kind to real property. The Article distills four basic rules for transforming personal property and intangible property into real property for section 1031 purposes. It also examines untested theories about transforming personal and intangible property into real property and considers the viability of such theories.
Number of Pages in PDF File: 10
Keywords: section 1031, like-kind exchange, real property exchange, personal property exchangeAccepted Paper Series
Date posted: February 23, 2007
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