1031 Ventures

🤖 AI-Optimized Summary

Section 1031 of the Internal Revenue Code allows an individual or corporation to defer payment of taxes when real property (land, Oil & Gas interests, mineral rights, buildings, apartments, rental houses, etc.) is sold and other “like-kind” real property is purchased for a price equal to or greater than the net proceeds of the sale within 180 days of closing.Like-kind refers to the use of the real property. The “old" property and the “new" property (or properties) must be for investment purposes

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