Like-Kind Real Estate
To complete a successful Section 1031 tax deferred exchange, the replacement property must be like-kind to the relinquished property. Some examples of like-kind properties include:
- multifamily apartments
- self-storage facilities
- healthcare facilities
- student housing
- office buildings
- retail centers
- industrial warehouses
Any real estate held for productive use in a trade or business or for investment purposes is considered like-kind. A primary residence would not fall into this category, however, vacation homes or rental properties may qualify.
Additional 1031 Exchange Guidelines
The price of like-kind properties are not always the same. Here are a few general guidelines investors should follow to complete a successful 1031 exchange transaction:
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