Like-Kind Exchanges. Buyer or Seller may elect to exchange the Property for other real estate of a like kind in accordance with Section 1031 of the Internal Revenue Code of 1986 as amended (the “Code”). To the extent possible, the provisions of this Section shall be interpreted consistently with this intent. To exercise any rights under this Section, the party electing to exchange the Property shall provide the other with a written statement stating its intent to enter into an exchange at least five days prior to Closing. Either party’s election to exchange, rather than sell or buy, the Property for other real estate of a like kind shall be at no cost or liability to the other.
Appears in 6 contracts
Samples: Agreement of Sale and Purchase (Physicians Realty Trust), Agreement of Sale and Purchase (Physicians Realty Trust), Agreement of Sale and Purchase (Physicians Realty Trust)
