a procedure in which a real property owner trades one property for another without having to pay any federal income taxes on that transaction

a sale of the relinquished property to one party and a purchase of the replacement property from another property

a transaction in which an owner of real property, holding the

A provision of the tax code (sec. 1031) that permits property owners to exchange like properties. If certain criteria are met, the parties can defer recognition of gain or loss and therefore also defer the tax that might have occurred in an outright sale.

An exchange executed under the provisions of IRS Code Section 1031 which results in the deferral of otherwise recognized gain.

The sale or disposition of real estate or personal property (relinquished property) and the acquisition of like-kind real estate or personal property (replacement property) structured as a tax-deferred, like-kind exchange transaction pursuant to Section 1031 of the Internal Revenue Code and Section 1.1031 of the Treasury Regulations in order to defer Federal, and in most cases state, capital gain and depreciation recapture taxes.

A transaction in which property is exchanged and the resulting gain is not taxed. Property acquired is considered to be substantially a continuation of the taxpayer's investment in the first property. Tax on the gain is deferred until a future taxable disposition (transfer of ownership) takes place.

The IRS Code (sec. 1031) allows owners of Real and Personal property to sell their property and purchase other like kind property while deferring capital gains tax as long as certain criteria are met.