Common use of Tax Deferred Exchanges Clause in Contracts

Tax Deferred Exchanges. Seller may elect to include the sale of the Property in an IRS Section 1031 Like-Kind Exchange (a tax‐ deferred exchange). In the event Seller makes such an election, Purchaser agrees to execute such documents necessary to effectuate such an Exchange, but in no event shall such Exchange affect the terms of the transaction or Seller’s responsibilities to Purchaser under the Contract. Seller shall bear the sole costs as a result of this election. ✔ Seller does not wish to institute a 1031 Like-Kind Exchange.

Tax Deferred Exchanges. Seller may elect to include the sale of the Property in an IRS Section 1031 Like-Kind Exchange (a tax‐ deferred exchange). In the event Seller makes such an election, Purchaser agrees to execute such documents necessary to effectuate such an Exchange, but in no event shall such Exchange affect the terms of the transaction or Seller’s responsibilities to Purchaser under the Contract. Seller shall bear the sole costs as a result of this election. ✔ Seller does not wish to institute a 1031 Like-Kind Exchange.