MLchartDataset catalogue

Like-kind property

Term · Law · MLC-T-LAW-003050

Real property held for productive use in a trade or business or for investment that is exchanged for other real property of a similar nature or character. This type of exchange, known as a 1031 exchange under the Internal Revenue Code, allows for the deferral of capital gains taxes. The properties do not need to be identical, but must be of the same general class.

Table 1. Record
IdentifierMLC-T-LAW-003050
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-003050",
  "term": "Like-kind property",
  "field": "Law",
  "definition": "Real property held for productive use in a trade or business or for investment that is exchanged for other real property of a similar nature or character. This type of exchange, known as a 1031 exchange under the Internal Revenue Code, allows for the deferral of capital gains taxes. The properties do not need to be identical, but must be of the same general class.",
  "url": "https://mlchart.com/terminology/law/like-kind-property/"
}

Record 3,004 of 5,441 in Law terminology (MLC-0107). Request the full dataset.