Haynes and Boone, LLP
  February 1, 2003 - Dallas, Texas

Real Estate Taxation: Current Developments
  by Stuart Miller

The Internal Revenue Service recently issued Revenue Ruling 2002-83 dealing with like-kind exchanges between related parties and unrelated qualified intermediaries. The Service held that a taxpayer who transfers relinquished property to a qualified intermediary in exchange for replacement property formerly owned by a related party is not entitled to nonrecognition treatment under Section 1031(a) of the Internal Revenue Code if, as part of the transaction, the related party receives cash or other non-like-kind property for the replacement property.


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