Common use of IRS Real Estate Sales Reporting Clause in Contracts

IRS Real Estate Sales Reporting. Seller shall act as “the person responsible for closing” the transaction which is the subject of this Agreement pursuant to Section 6045(e) of the Internal Revenue Code and shall prepare and file all informational returns, including IRS Form 1099-S, and shall otherwise comply with the provisions of Section 6045(e) of the Internal Revenue Code.

Appears in 15 contracts

Samples: Sales Agreement (Travelcenters of America LLC), Development Property Agreement (Travelcenters of America LLC), Sales Agreement (Travelcenters of America LLC)

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IRS Real Estate Sales Reporting. Purchaser and Seller hereby agree that Seller’s attorneys shall act as "the person responsible for closing" the transaction which is the subject of this Agreement pursuant to Internal Revenue Code Section 6045(e) of the Internal Revenue Code and shall prepare and file all informational returns, including without limitation, IRS Form 1099-S, and shall otherwise comply with the provisions of Internal Revenue Code Section 6045(e) of the Internal Revenue Code).

Appears in 1 contract

Samples: Real Estate Purchase Agreement (HappyNest REIT, Inc.)

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IRS Real Estate Sales Reporting. Seller shall act as “the person responsible for closing” the transaction which is the subject of this Agreement pursuant to Section 6045(e) of the Internal Revenue Code and shall prepare and file all informational returns, including IRS Form 1099-S, and shall otherwise comply with the provisions of Section 6045(e) of the Internal Revenue Code. 1 In the case of certain of the Legacy TA Properties, revise to cover only Improvements.

Appears in 1 contract

Samples: Lease Agreement (Hospitality Properties Trust)

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