1031 Vocabulary
Boot
Money, non-like-kind property, and certain liability relief that an exchanger receives in exchange for relinquished property.  The receipt of boot triggers gain under section 1031 to the extent of the boot received or gain realized, whichever is lower.
 
Home arrow 1031 Vocabulary arrow Tenancy-in-common (TIC)
Thursday, 11 March 2010
Tenancy-in-common (TIC) PDF Print E-mail
A co-ownership arrangement in which multiple parties own undivided interests in a single piece of property. TIC interests have become popular replacement property for section 1031 exchangers.
 
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