MLchartDataset catalogue

Replacement property

Term · Law · MLC-T-LAW-004233

Real estate or other assets acquired to substitute for property that was involuntarily converted, such as through condemnation or destruction. Under certain tax codes, investing in replacement property within a specific timeframe can defer capital gains taxes on the converted asset. Section 1033 of the U.S. Internal Revenue Code addresses involuntary conversions.

Table 1. Record
IdentifierMLC-T-LAW-004233
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-004233",
  "term": "Replacement property",
  "field": "Law",
  "definition": "Real estate or other assets acquired to substitute for property that was involuntarily converted, such as through condemnation or destruction. Under certain tax codes, investing in replacement property within a specific timeframe can defer capital gains taxes on the converted asset. Section 1033 of the U.S. Internal Revenue Code addresses involuntary conversions.",
  "url": "https://mlchart.com/terminology/law/replacement-property/"
}

Record 4,291 of 5,439 in Law terminology (MLC-0107). Request the full dataset.