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Subject:  Re: 1031 tax-free exchange ? Date:  1/20/2003  1:08 PM
Author:  uglierthanme Number:  35582 of 90548

re; tax free exchange -
As to why we are doing an exchange.
There is property we got title through an estate.
There is property passed to the for heirs outside the estate.
Through the estate, all taxes were paid by the estate.
Property outside the estate has not been appraised for taxes since 1966.
My wife's three sister want to use their share of property they own outside the estate and deed it to my wife.
In exchange they want to use today's appraised value on that property towards buying additional property that my wife inheirted from the estate.
They would get more value from this arrangement since they are not paying any taxes.
I understand that we would have to pay the taxes on the property that we get,when we sell.
This was agreed to get away from these people as they would not settle the estate without. Believe me it's worth it.

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