Nolo's Plain-English Law Dictionary
Need Professional Help? Talk to a Lawyer
Enter Your Zip Code to Connect with a Lawyer Serving Your Area
- Like-Kind Property
- Property that is similar to property being sold in a 1031 exchange. Property must be like-kind to be eligible for an exchange, but that does not mean it need be similar. Properties must simply be of the same nature or character (meaning both are investment or business properties), but not the same grade or quality.