Common use of Tax Deferred Exchange Clause in Contracts

Tax Deferred Exchange. (A) Seller reserves the right to structure this transaction as a tax-deferred exchange under Internal Revenue Code §1031. Buyer shall cooperate to complete the said exchange. Seller shall be responsible for all expenses related to seller-initiated exchange. (B) Buyer shall have the right to assign this Agreement without consent of the Seller, prior to closing, in order to affect a Like-Kind Section §1031 Tax-Free Exchange at no additional cost to Seller. Buyer shall be responsible for all expenses related to a buyer-initiated exchange.

Tax Deferred Exchange. (A) Seller reserves the right to structure this transaction as a tax-deferred exchange under Internal Revenue Code §1031Code§1031. Buyer shall cooperate to complete the said exchange. Seller shall be responsible for all expenses related to seller-initiated exchange. (B) Buyer shall have the right to assign this Agreement without consent of the Seller, prior to closing, in order to affect a Like-Kind Section §1031 Tax-Free Exchange at no additional cost to Seller. Buyer shall be responsible for responsiblefor all expenses related to a buyer-initiated exchange.