Like-Kind Property
Like-kind property refers to real estate that is of the same nature or character as other investment or business-use real estate, even if the property type, quality, or grade differs. In a 1031 exchange, replacement property must be like-kind to the relinquished property.
Like-Kind Exchange
When one investment property used for business purposes is replaced with another property used for business purposes. Like-kind refers to the use of the property, not the asset class.
Like-Kind Property
Property that falls within IRC guidelines to be suitable for a 1031 Exchange transaction
