Internal Revenue Code 1031
Section 1031 of the Internal Revenue Code discusses tax deferred exchanges.
Intermediary
An entity recognized by the IRS to act as the ‘middleman’ in a 1031 exchange. The intermediary receives funds from the relinquished property, disburses funds for the replacement property, and coordinates all paperwork
IRC Section 1031
IRC Section 1031 (a)(1) states:
“No gain or loss shall be recognized on the exchange of real property held for productive use in a trade or business or for investment, if such real property is exchanged solely for real property of like-kind which is to be held either for productive use in a trade or business or for investment.”
