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Full-Text Articles in Law
Tax Opinions In Tic Offerings And Reverse Tic Exchanges, Brad Borden, Todd D. Keator
Tax Opinions In Tic Offerings And Reverse Tic Exchanges, Brad Borden, Todd D. Keator
Bradley T. Borden
Property owners often acquire tenancy-in-common (TIC) interests as replacement property in section 1031 exchanges. Generally, TIC interests are sold as securities under federal and state securities laws, and their offering materials include a tax opinion addressing whether the TIC offering is a tax partnership. This Article explains that opinion writers consider whether the TIC offering satisfies the conditions of Rev. Proc. 2002-22 when writing tax opinions. If a TIC offering satisfies all of the Rev. Proc. 2002-22 conditions, the opinion writer will most likely write a should opinion. If the TIC offering does not satisfy all of the conditions, the …
Section 1031 Alchemy: Transforming Personal Tangible And Intangible Property Into Real Property, Brad Borden, Kelly E. Alton
Section 1031 Alchemy: Transforming Personal Tangible And Intangible Property Into Real Property, Brad Borden, Kelly E. Alton
Bradley T. Borden
Section 1031 nonrecognition applies only to exchanges of like-kind properties. Although real property generally is not like kind to personal property or intangible property, case law reveals that personal property and intangible property can be combined with certain real property interests and become like kind to real property. The Article distills four basic rules for transforming personal property and intangible property into real property for section 1031 purposes. It also examines untested theories about transforming personal and intangible property into real property and considers the viability of such theories.