Common use of IRC Section 1031 Exchange Clause in Contracts

IRC Section 1031 Exchange. Seller and Purchaser each shall accommodate the other, at no liability, cost or expense to either, in selling and acquiring the Real Estate as part of a tax-deferred like-kind exchange under Section 1031 of the Internal Revenue Code. Each party consents to the assignment of this Agreement by the other to an Exchange Agent. Seller and Purchaser shall execute such additional instruments, documents and agreements as may be reasonably required to effectuate the exchange, and which are customarily used in such transactions. A failure or delay in completion of the contemplated exchange shall not terminate or delay either party’s obligation to the other under this Agreement. Neither party shall be required to take title to the replacement property of the other.

IRC Section 1031 Exchange. DRAFT: Non-Executable Seller and Purchaser each shall accommodate the other, at no liability, cost or expense to either, in selling and acquiring the Real Estate as part of a tax-deferred like-kind exchange under Section 1031 of the Internal Revenue Code. Each party consents to the assignment of this Agreement by the other to an Exchange Agent. Seller and Purchaser shall execute such additional instruments, documents and agreements as may be reasonably required to effectuate the exchange, and which are customarily used in such transactions. A failure or delay in completion of the contemplated exchange shall not terminate or delay either party’s obligation to the other under this Agreement. Neither party shall be required to take title to the replacement property of the other.

IRC Section 1031 Exchange. Seller and Purchaser each shall accommodate the other, at no liability, cost or expense to either, in selling and acquiring the Real Estate as part of a tax-deferred like-kind exchange under Section 1031 of the Internal Revenue Code. Each party consents to the assignment of this Agreement by the other to an Exchange AgentTrustee or Accommodation Party. Seller and Purchaser shall execute such additional instruments, documents and agreements as may be reasonably required to effectuate the exchange, and which are customarily used in such transactions. A failure or delay in completion of the contemplated exchange shall not terminate or delay either party’s obligation to the other under this Agreement. Neither party shall be required to take title to the replacement property of the other.

IRC Section 1031 Exchange. Seller and Purchaser each shall accommodate the other, at no liability, cost or expense to either, in selling and acquiring the Real Estate as part of a tax-deferred like-kind exchange under Section 1031 of the Internal Revenue Code. Each party Party consents to the assignment of this Agreement by the other to an Exchange AgentTrustee or Accommodation Party. Seller and Purchaser shall execute such additional instruments, documents and agreements as may be reasonably required to effectuate the exchange, and which are customarily used in such transactions. A failure or delay in completion of the contemplated exchange shall not terminate or delay either party’s obligation to the other under this Agreement. Neither party Party shall be required to take title to the replacement property of the other.