| |
In 1968 the U.S. Treasury Department (which includes the IRS) voted-in Ruling 68-331 which ruled that like-kind real estate for 1031 Exchanges include Real Estate rights above the ground, on the ground and below the ground to the core of the earth.
You probably already knew that you can buy a building on leased land, which would be Real Estate rights above the ground, and the building would qualify for a 1031 Exchange. Well you can also purchase the Real Estate rights below the surface of the land, such as mineral and energy rights, and it is treated like like-kind Real Estate.
The Sponsors we represent have Will-tax opinions that support this long established opportunity. A Will-tax opinion is the strongest tax opinion any lawyer can write.
|
|
