Boot


Definition of "Boot"

Tax term referring to cash or property of a type not included in the definition of a nontaxable exchange. The receipt of boot results in an otherwise tax-free transfer becoming taxable to the extent of the smaller of the boots fair market value or the realized gain on the transfer.

Have a question or comment? We're here to help.

 
 
 
*** Your email address will remain confidential.
 
 

Search Real Estate Terms

 

Popular Real Estate Terms

Historical Structure

Building recognized because of its history, such as the Booth theater in Washington, Dc. The demolition of historical buildings is not permitted. Hist ...

Direct Selling System

Same as term Direct Response Marketing: method of selling insurance directly to insureds through a companies own employees, through the mail, or at ai ...

Direct Response Marketing (direct Selling System)

Method of selling insurance directly to insureds through a company's own employees, through the mail, or at airport booths. The company uses this meth ...

Direct Selling

Same as term Direct Response Marketing: method of selling insurance directly to insureds through a companies own employees, through the mail, or at ai ...

Boot

Property or money received as additional consideration in regard to a tax-free exchange of property. If the policyholder receives money in an otherwis ...

Like-kind Property

Property that is similar in characteristic and when exchanged is a nontaxable transaction. Any property that is not like-king, such as cash (boot), is ...

Popular Real Estate FAQ

What Is A Multiple Listing Service (MLS)?

A multiple listing service is a computerized listing of the homes for sale in an area listed with a realtor. Agents are granted access to the MLS and ...

What Is Accession?

The right of a property owner to have and enjoy all of the advantages of property ownership including air right, mineral rights, riparian rights, and ...

What Is An Investment Property?

An investment property is a property you purchase with the intension of using it as a rental income or for investment purposes rather than to live in. ...

What Is A Sales Contract?

A sales contract is the contract you draw up when you want to make an offer on a home. ...

What Is An Agent?

A person authorized to work on anothers behalf-for instance, a person authorized to sell or buy a house on your behalf. ...

I Dont Know The Zip Code Of My Areas. How Do I Find An Agent That Is Right For Me In My Area.

Please refer to our directory, where you will be able to browse using Counties and/or Cities. ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

Down Payment: Everything You Wanted to Know Luxury Real Estate Forecast Furnished Rental Tips for Real Estate Investors How to Buy a House Quickly What is a Credit Score and How Does it Impact Real Estate?

FAQ

What Will My ARM Loan Payment Be ? What is a mortgagee? What is a mortgage banker? What is principal? What is an index?