Tax-free, like-kind exchanges have become a popular and widely used way to dispose of low-basis, high value assets. A recent private letter ruling, however, has raised a red flag for some like-kind exchanges involving co-owned property. The risk is sufficiently great to suggest that every proposed like-kind exchange involving coowned property should be reviewed with care before the exchange is completed.
"Care Needed In Co-Ownership Like-Kind Exchanges,"
Agricultural Law Digest: Vol. 10
, Article 1.
Available at: http://lib.dr.iastate.edu/aglawdigest/vol10/iss14/1