Nolo’s Plain-English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009.
property — prop·er·ty n pl ties [Anglo French propreté proprieté, from Latin proprietat proprietas, from proprius own, particular] 1: something (as an interest, money, or land) that is owned or possessed see also asset, estate, interest … Law dictionary
replacement property — In a 1031 exchange, the property the investor purchases with the proceeds of the sale of the original property (called the relinquished property). Under current IRS rules, replacement property must be identified within 45 days of the sale of the… … Law dictionary
abandoned property — Property over which the owner has given up dominion and control with no intention of recovering it. Abandoned property in a legal sense is that to which owner has relinquished all right, title, claim, and possession, but without vesting it in any … Black's law dictionary
abandoned property — Property over which the owner has given up dominion and control with no intention of recovering it. Abandoned property in a legal sense is that to which owner has relinquished all right, title, claim, and possession, but without vesting it in any … Black's law dictionary
abandoned property — Property to which an owner has voluntarily relinquished all right, title, claim and possession with the intention of terminating his ownership, but without vesting it in any other person and with the intention of not reclaiming future possession… … Ballentine's law dictionary
abandonment of property — Intentional and absolute relinquishment of property without reference to any particular person or for any particular purpose. 1 Am J2d Aband § 1; 3 Am J2d Adv P § 77. Abandoned property is that to which the owner has voluntarily relinquished all… … Ballentine's law dictionary
Internal Revenue Code section 1031 — Under Section 1031 of the Internal Revenue Code (usc|26|1031), the exchange of certain types of property may defer the recognition of capital gains or losses due upon sale, and hence defer any capital gains taxes otherwise due.ummaryTo qualify… … Wikipedia
boot — n [obsolete or dialect boot compensation, from Old English bōt advantage, compensation]: additional money or property received to make up the difference in an exchange of business or investment property that is of like kind but unequal in value ◇ … Law dictionary
Tenants in common 1031 exchange — See 1031 exchange for the traditional use of IRS regulation 1031 Tenants in common 1031 Exchange is a form of real estate asset ownership in the United States of America in which two or more persons have an undivided, fractional interest in the… … Wikipedia
Qualified Exchange Accommodation Arrangements — A strategy used in some 1031 exchanges where a third party, known as an accommodation party, temporarily holds the real estate investor s relinquished or replacement property. The purpose of this arrangement is to help investors comply with… … Investment dictionary
