Confused with all the Land Lingo on www.UnitedLandSales.com? The following Land Terms should help you out.
Also known as a Starker exchange or a tax-deferred exchange, permits investment property owners to sell a property and defer tax payments by reinvesting the proceeds into a “like-kind” investment property or properties. A 1031 exchange is enabled by Section 1031 in the Internal Revenue Code.
A common unit of land measure equal to 43,560 square feet.
Attorney’s Title Opinion
Similar to a title certificate. A certificate that finds no defect in the public record is good enough for financing to be arranged and the purchase to go through.