google bot detected Likekind Property | Real Estate Glossary |

Likekind Property

Definition of "Like-kind property"

Beverley Knopp
  Keller Williams

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 taxed. As a result, a gain is not recognized for tax purposes until the property received is later sold.

Related Real Estate Glossary terms

Related Real Estate FAQ