If you own some commercial or residential real estate, you probably know about Code Section 1031. If you don't and you finally decide that you are sick of being a landlord, you will almost definitely hear about it. There are a couple of Internal Revenue Code Sections that have worked their way into the language. 401(k) and 501(c)(3) are among them, but among real estate people 1031 is the one you will hear the most. As far as I know, 1031 is the only Code Section that is used as a verb as in...
If you own some commercial or residential real estate, you probably know about Code Section 1031. If you don't and you finally decide that you are sick of being a landlord, you will almost definitely hear about it. There are a couple of Internal Revenue Code Sections that have worked their way into the language. 401(k) and 501(c)(3) are among them, but among real estate people 1031 is the one you will hear the most. As far as I know, 1031 is the only Code Section that is used as a verb as in...
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