Section 1031 Exchange definition

Section 1031 Exchange means an exchange conducted pursuant to 26 U.S.C. sec. 1031 that allows investors to defer the tax on capital gains.
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Section 1031 Exchange means a transaction intended to qualify for nonrecognition of gain or loss under Section 1031 of the Code pursuant to which the Borrower or a Restricted Subsidiary of the Borrower would exchange Oil and Gas Properties owned by it for Oil and Gas Properties owned by a third party.
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Section 1031 Exchange means a Forward 1031 Exchange, a Reverse 1031 Exchange and any other analogous transaction intended to qualify for non-recognition of gain or loss under Section 1031 of the Code pursuant to which the Borrower and/or any of its Restricted Subsidiaries exchange Properties owned by them for Properties owned by a third party.
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Examples of Section 1031 Exchange in a sentence

  • In connection therewith, and notwithstanding anything herein to the contrary, Purchaser shall cooperate with Seller and shall take, and consent to Seller taking, any action in furtherance of effectuating a Section 1031 Exchange (including, without limitation, any action undertaken pursuant to Revenue Procedure 2000-37, 2000-40.

  • In addition to the representations and warranties made above, you further agree that: a) each Client has authorized you to act as a Qualified Intermediary (as defined in the Internal Revenue Code and Treasury Regulations) in connection with a Section 1031 Exchange, and b) you have filed all required notices (if any) with the Internal Revenue Service regarding your status as a Qualified Intermediary.

  • In the event that two Customers are involved with a single Section 1031 Exchange, you agree to open a separate Subsidiary Account for each Client, with the Exchange Funds being distributed across each Subsidiary Account by you, as instructed and per the interest arrangement designated on the Application.

  • We may request, and you agree to provide, documentation related to a Section 1031 Exchange for which the Exchange Funds are held in Subsidiary Account(s) at the Bank, including but not limited to agreements between you and Client that provide evidence of the Section 1031 Exchange services being performed by you for Client, and/or agreements between you and Client disclosing the processing instructions that we are performing on the Subsidiary Account(s), as requested by you to us.

  • You agree that each Subsidiary Account will be opened and operated in connection with a Section 1031 Exchange by a Client in accordance with Section 1031(a) of the Internal Revenue Code and the Treasury Regulations thereunder, as well as any agreements entered between you and each Client.

  • Each party agrees, at no cost or expense to the other, to execute such documents, and take such actions as are necessary to assist the other party in a Section 1031 Exchange and to cooperate fully with the other party to accomplish the Exchange including, but not limited to, executing escrow instructions to document and effectuate the Exchange, provided that such Exchange does not impair or delay the consummation of the transaction provided for herein.

  • Seller agrees that it will cooperate, without cost or expense to Seller, with Buyer in effectuating an Internal Revenue Service Section 1031 Exchange with this Property, provided (a) Seller will not be required to take title to any exchange property and (b) the exchange does not delay Closing.

  • To the extent that the Broker holds any Stock for the account of the Seller upon termination of this Trading Plan, the Broker agrees to return such Stock promptly to the Seller, or, to the Issuer's transfer agent for relegending if such Stock would then be subject to transfer restrictions.

  • Purchaser hereby acknowledges that Seller may now or hereafter desire to enter into a partially or completely nontaxable exchange (a "Section 1031 Exchange") involving the Property (and/or any one or more of the properties comprising the Property) under Section 1031 of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations promulgated thereunder.

  • Additional Terms for Section 1031 Exchange Relationship DESA Service‌ Our Section 1031 Exchange Relationship DESA Service enables entities acting as Qualified Intermediaries (as defined in the Treasury Regulations) and performing transactions involving the tax-deferred exchanges of certain property (“Section 1031 Exchange”) to manage the proceeds from one or more Section 1031 Exchanges (“Exchange Funds”).


More Definitions of Section 1031 Exchange

Section 1031 Exchange means a like kind tax-free exchange of real property interests in accordance with Section 1031 of the Internal Revenue Code.
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Section 1031 Exchange means a transaction intended to qualify as tax-free under Section 1031 of the Code.
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Section 1031 Exchange means, with respect to any property, the exchange ▇▇ ▇▇▇▇ ▇roperty for property of like kind in a transaction qualifying under Section 1031 of the Code in which not more than 10% of the built-in gain associated with such property is required to be recognized by the partners of the Operating Partnership for federal income tax purposes.
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Section 1031 Exchange has the meaning ascribed to such term in Section 10.7.
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Section 1031 Exchange. Seller understands and acknowledges that a material inducement to Purchaser's entry into this Agreement is the right of the Purchaser to structure the transaction contemplated by this Agreement so as to qualify as a tax free exchange of like kind property in compliance with the provisions of Section 1031 of the Internal Revenue Code of 1986, as amended ("Section 1031"). Seller agrees to cooperate in all reasonable respect to allow Purchaser to structure the transactions contemplated in this Agreement as like kind exchanges in compliance with the provisions of Section 1031 and the regulations promulgated thereunder (the "Regulations") and Purchaser shall be entitled to determine and designate which transactional structures permitted by Section 1031 and the Regulations shall be used in connection with its Section 1031 exchanges. Without limiting the generality of the foregoing, Purchaser may enter into written exchange agreements or assignment agreements at any time prior to the closing with a "Qualified Intermediary" [as defined in Section 1.1031(k)-1(g)(4)(iii)] for the assignment of the rights of Purchaser under this Agreement to such "Qualified Intermediary" (each, an "Intermediary") for purposes only of its Section 1031 exchanges. The relevant Intermediary shall be designated in writing by Purchaser to Seller, and in such case Seller shall sign and deliver to Purchaser a written instruction (to be prepared by Purchaser) acknowledging the designation of the Intermediary and the assignment of the right, title and interest of Purchaser under this Agreement to the Intermediary. Upon designation of the Intermediary by Purchaser and upon the Intermediary's written assumption of the obligation of Purchaser hereunder, the Intermediary shall be substituted as Purchaser of the Premises under this Agreement. In such case, Seller agrees to convey title to the Premises to any party designated in writing to the Seller by the Intermediary and to render the performance of all Seller's obligations under this Agreement to the Intermediary, subject to the requirements of this Agreement. Purchaser shall bear any and all costs attributable to Purchaser's election to close these transactions as Section 1031 exchanges, and Seller shall not bear any cost or expense in excess of its responsibilities under a direct two-party conveyance. Purchaser's qualification of the transactions contemplated by this Agreement as Section 1031 tax free exchanges is not a condition precedent to ...
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Section 1031 Exchange means a tax-deferred exchange in accordance with Section 1031 of the Code, as structured by Welltower and its tax advisors.
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Related to Section 1031 Exchange

  • 1031 TAX EXCHANGE The seller of this property may facilitate this sale by use of a 1031 Exchange, and the buyer agrees to sign additional 1031 Exchange documents if required. CONDITION OF PROPERTY: THE PURCHASER UNDERSTANDS THAT THE SELLER ACQUIRED THE PROPERTY BY FORECLOSURE, DEED-IN-LIEU OF FORECLOSURE, FORFEITURE, TAX SALE, RIGHT OF EMINENT DOMAIN OR SIMILAR PROCESS AND CONSEQUENTLY AND OR ANY OTHER WAY. THE SELLER HAS LITTLE OR NO DIRECT KNOWLEDGE CONCERNING THE CONDITION OF THE PROPERTY. ▇▇▇▇▇ HAS HAD THE RIGHT TO INSPECT PROPERTY. THE PROPERTY IS SOLD AS IS, SUBJECT TO ANY AND ALL LOCAL GOVERMENT HOUSING CODE VIOLATIONS. AS A MATERIAL PART OF THE CONSIDERATION TO BE RECEIVED BY THE SELLER UNDER THIS AGREEMENT AS NEGOTIATED AND AGREED TO BY THE PURCHASER AND THE SELLER, THE PURCHASER ACKNOWLEDGES AND AGREES TO ACCEPT THE PROPERTY IN "AS IS" CONDITION AT THE TIME OF CLOSING, INCLUDING, WITHOUT LIMITATION, ANY HIDDEN DEFECTS OR ENVIRONMENTAL CONDITIONS AFFECTING THE PROPERTY, WHETHER KNOWN OR UNKNOWN WHETHER SUCH DEFECTS OR CONDITIONS WERE DISCOVERABLE THROUGH INSPECTION OR NOT. THE PURCHASER ACKNOWLEDGES THAT THE SELLER, ITS AGENTS AND REPRESENTATIVES HAVE NOT MADE AND THE SELLER SPECIFICALLY NEGATES AND DISCLAIMS ANY REPRESENTATIONS, WARRANTIES, PROMISES, COVENANTS, AGREEMENTS OR GUARANTEES, IMPLIED OR EXPRESS, ORAL OR WRITTEN IN RESPECT TO: (A) THE PHYSICAL CONDITION OR ANY OTHER ASPECT OF THE PROPERTY INCLUDING THE STRUCTURAL INTEGRITY OR THE QUALITY OR CHARACTER OF MATERIALS USED IN CONSTRUCTION OF ANY IMPROVEMENTS, AVAILABILITY AND QUANTITY OR QUALITY OF WATER, STABILITY OF THE SOIL, SUSCEPTIBILITY TO LANDSLIDE OR FLOODING, SUFFICIENCY OF DRAINAGE, WATER LEAKS, WATER DAMAGE, MOLD OR ANY OTHER MATTER AFFECTING THE STABILITY, INTEGRITY, OR CONDITION OF THE PROPERTY OR IMPROVEMENTS;

  • Cooperative Stock With respect to a Cooperative Loan, the single outstanding class of stock, partnership interest or other ownership instrument in the related Cooperative.

  • Section 338 Forms means all returns, documents, statements, and other forms that are required to be submitted to any federal, state, local or foreign Taxing authority in connection with a Section 338(h)(10) Election, including, without limitation, any "statement of Section 338 Election" and IRS Form 8023 (together with any schedules or attachments thereto) that are required pursuant to Treasury regulations.

  • Taxable REIT Subsidiary means any Subsidiary of the Company that is a “taxable REIT subsidiary” within the meaning of Section 856(l) of the Code on or after January 1, 2001, or a Subsidiary of such Taxable REIT Subsidiary.

  • the Code means the Pension Regulator’s Code of Practice No 14 governance and administration of public service pension schemes.