relinquished property
In a 1031 exchange, the property the investor is selling. Instead of receiving the funds, the investor has them held in trust (usually, with a neutral trustee), until he or she uses the funds to purchase a replacement property.
Category: Real Estate & Rental Property

Nolo’s Plain-English Law Dictionary. . 2009.

Look at other dictionaries:

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  • abandoned property — Property to which an owner has voluntarily relinquished all right, title, claim and possession with the intention of terminating his ownership, but without vesting it in any other person and with the intention of not reclaiming future possession… …   Ballentine's law dictionary

  • abandonment of property — Intentional and absolute relinquishment of property without reference to any particular person or for any particular purpose. 1 Am J2d Aband § 1; 3 Am J2d Adv P § 77. Abandoned property is that to which the owner has voluntarily relinquished all… …   Ballentine's law dictionary

  • Internal Revenue Code section 1031 — Under Section 1031 of the Internal Revenue Code (usc|26|1031), the exchange of certain types of property may defer the recognition of capital gains or losses due upon sale, and hence defer any capital gains taxes otherwise due.ummaryTo qualify… …   Wikipedia

  • boot — n [obsolete or dialect boot compensation, from Old English bōt advantage, compensation]: additional money or property received to make up the difference in an exchange of business or investment property that is of like kind but unequal in value ◇ …   Law dictionary

  • Tenants in common 1031 exchange — See 1031 exchange for the traditional use of IRS regulation 1031 Tenants in common 1031 Exchange is a form of real estate asset ownership in the United States of America in which two or more persons have an undivided, fractional interest in the… …   Wikipedia

  • Qualified Exchange Accommodation Arrangements — A strategy used in some 1031 exchanges where a third party, known as an accommodation party, temporarily holds the real estate investor s relinquished or replacement property. The purpose of this arrangement is to help investors comply with… …   Investment dictionary

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