What Is 1031? also referred to as a 1031 Exchange or Like-Kind Exchange, and falls under Section 1031 of the Internal Revenue Code. This tax section deals with property value in sale of business or trades and other like sales. Contact us to get your property exchange prepared & filed by a qualified
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Definition:
A situation in which a borrower is paying less interest than what is actually being charged for a mortgage loan. The unpaid interest is added to the loan's principal. The borrower may end up owing more than the original amount of the mortgage.
Indirect Costs
Definition:
Development costs other than direct material or direct labor costs including administrative and office expenses, financing costs and property taxes.
Tax Deed
Definition:
A written document conveying title to property repossessed by the government due to default on tax payments.