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Like-kind exchange
Like-kind exchange A tax-deferred exchange of similar items you use in your business or hold for investment, not including securities and other indebtedness or interests such as stocks and bonds.
RELATED TERMS--------------------------------------
Exchange
A transaction in which all or part of the consideration for the purchase of real property is the transfer of property of "like kind".
Investment
Money directed toward the purchase, improvement and development of an asset in expectation of income or profits.
SIMILAR TERMS--------------------------------------
Like kind exchange
Like kind exchange or 1031 exchange is defined by section 1031 of the Internal Revenue Code of US. This section's code specifies that if an asset, a form of real estate: land or building, is sold and the proceeds of the sale are reinvested in a like kind of an asset, then no gain or loss is recognized, allowing the deferment of capital gains taxes.
Like-kind
A term relating to the nature of a property rather than its quality or quantity. Only like kind properties qualify for a real estate exchange and the resulting tax benefit.
Like-kind property
A term used in an exchange of property held for productive use in a trade or business or for investment. Unless cash is received, the tax consequences of the exchange are postponed pursuant to Section 1031 of the Internal Revenue Code.
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Lifecycle
The various developmental stages of a property: pre-development, development, leasing, operating and redevelopment (or rehab)
Lifecycle cost analysis
A method of calculating a building’s expected operating and maintenance costs over its lifespan.
Lifetime rate cap
In an adjustable rate mortgage (ARM), it limits the amount that the interest rate can increase or decrease over the life of the loan.
Lifting clause
A provision in a junior mortgage that allows the underlying senior loan to be replaced or refinanced so long as the amount of the new senior loan does not exceed the amount of the first lien outstanding at the time the junior loan was made.
Like-kind
A term relating to the nature of a property rather than its quality or quantity. Only like kind properties qualify for a real estate exchange and the resulting tax benefit.
Like-kind exchange
Like-kind property
A term used in an exchange of property held for productive use in a trade or business or for investment. Unless cash is received, the tax consequences of the exchange are postponed pursuant to Section 1031 of the Internal Revenue Code.
Limited Liability Company (LLC)
LLCs are a relatively recent form of business organization. An LLC combines the most attractive features of limited partnerships and corporations.
Limited partnership
A partnership consisting of one or more general partners who conduct the business and are responsible for losses, and one or more special partners, who contributes capital and are liable only to the amount contributed.
Line of credit
An amount of money stipulated by a commercial bank to an active customer on an annual basis.
Lintel
A horizontal piece over a door or window that carries the weight of the structure above it.
This dictionary contains 6433 terms. |
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