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What I plan to exchange it for is another contract on a community entering development in the next 3-6 months.

I seem to recall there's some technicalities associated with contracts and other intangible assets. I can't say for sure without doing some research and, frankly, it's not a topic that I'm terribly interested in at the moment, so I'm not going to do that kind of research.

Perhaps someone else has some better recollections without hitting the books too hard.

However, there is still one question that has been left unanswered. Is this an investment property you're considering? If it is for your own residence, then we're done since a 1031 exchange can't be done with personal use property.

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