1031 Exchanges/Reverse 1031 Exchanges Sample Clauses

A 1031 Exchanges/Reverse 1031 Exchanges clause allows parties to defer capital gains taxes by exchanging one investment property for another, as permitted under Section 1031 of the Internal Revenue Code. This clause typically outlines the procedures and timelines for completing either a standard 1031 exchange, where the original property is sold before acquiring the replacement, or a reverse exchange, where the replacement property is acquired before the original is sold. Its core function is to facilitate tax-deferred property transactions, providing flexibility for investors to reinvest in new properties without immediate tax liability.
1031 Exchanges/Reverse 1031 Exchanges. Some Purchasers seek to purchase property which can be exchanged on a tax-free basis or with a minimal tax impact pursuant to the IRS §1031 Like-Kind provisions. Less commonly, some Sellers seek to complete a reverse 1031 exchange by purchasing replacement property before they have relinquished their current property. The rules permit parties to designate properties which will be the exchanged properties and acquired properties and permit funds (which represent the proceeds of the exchange) to be exchanged in lieu of the actual transfer of title to the properties. The mechanism permits "exchange parties" (which typically consist of title companies or special entities) to be designated for this purpose to act as the depository of deeds and the exchange of moneys to be used interchangeably to effect these transactions. The concerns of the party passively cooperating with the other party’s 1031 exchange include: (1) the exchange not causing a delay in the closing date, (2) the use of an exchange party so that the cooperating party need not become involved in the exchange process (other than signing a form acknowledging that the property is subject to an exchange transaction), and (3) the cooperating party not incurring any costs in connection with the exchange, with all costs being paid by the party pursuing the exchange.
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Related to 1031 Exchanges/Reverse 1031 Exchanges

  • Additional Wet Weather Procedure 14.15.1 Remaining On Site a) for more than an accumulated total of four hours of ordinary time in any one day; or b) after the meal break, as provided for in clause 17.1 of the Award, for more than an accumulated total of 50% of the normal afternoon work time; or c) during the final two hours of the normal work day for more than an accumulated total of one hour, the Enterprise will not be entitled to require the employees to remain on site beyond the expiration of any of the above circumstances.

  • All Other Transfers and Exchanges of Beneficial Interests in Global Securities In connection with all transfers and exchanges of beneficial interests in any Global Security that is not subject to Section 2.2(b)(i), the transferor of such beneficial interest must deliver to the Registrar (1) a written order from an Agent Member given to the Depository in accordance with the applicable rules and procedures of the Depository directing the Depository to credit or cause to be credited a beneficial interest in another Global Security in an amount equal to the beneficial interest to be transferred or exchanged and (2) instructions given in accordance with the applicable rules and procedures of the Depository containing information regarding the Agent Member account to be credited with such increase. Upon satisfaction of all of the requirements for transfer or exchange of beneficial interests in Global Securities contained in this Indenture and the Securities or otherwise applicable under the Securities Act, the Trustee shall adjust the principal amount of the relevant Global Security pursuant to Section 2.2(g).

  • Prior Procedure Required No grievance shall be considered by the arbitrator which has not been first duly processed in accordance with the grievance procedure and appeal provisions.

  • All Other Transfers and Exchanges of Beneficial Interests in Global Notes In connection with all transfers and exchanges of beneficial interests that are not subject to Section 2.06(b)(i) hereof, the transferor of such beneficial interest must deliver to the Registrar either (A) (1) a written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures directing the Depositary to credit or cause to be credited a beneficial interest in another Global Note in an amount equal to the beneficial interest to be transferred or exchanged and (2) instructions given in accordance with the Applicable Procedures containing information regarding the Participant account to be credited with such increase or (B) (1) a written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures directing the Depositary to cause to be issued a Definitive Note of the same series in an amount equal to the beneficial interest to be transferred or exchanged and (2) instructions given by the Depositary to the Registrar containing information regarding the Person in whose name such Definitive Note shall be registered to effect the transfer or exchange referred to in (1) above; provided that in no event shall Definitive Notes be issued upon the transfer or exchange of beneficial interests in the Regulation S Temporary Global Note prior to (A) the expiration of the Restricted Period therefor and (B) the receipt by the Registrar of any certificates required pursuant to Rule 903(b)(3)(ii)(B). Upon satisfaction of all of the requirements for transfer or exchange of beneficial interests in Global Notes contained in this Indenture and the Notes or otherwise applicable under the Securities Act, the Trustee shall adjust the principal amount of the relevant Global Note(s) pursuant to Section 2.06(h) hereof.

  • Certain Transfers and Exchanges Notwithstanding any other provision of this Indenture, transfers and exchanges of Securities and beneficial interests in a Global Security shall be made only in accordance with this Section 3.6(b).