Legal Question in Real Estate Law in Massachusetts
Tax deferred exchanges
Could I subdivide my shopping center into conduminiums and later on use these properties as a basis for a free-exchange against another plot of land.
Does my decision to subdivide or establish my center as a condominium affect my ability to enter into future deals of acquiring another land in a tax deferred exchange?
1 Answer from Attorneys
Re: Tax deferred exchanges
I'm sorry to be vague, but the answer is that the change of the nature and purpose of the shopping center MIGHT affect your ability to avoid unwanted realization of gains. I would like to know more to be able to give you a thorough answer. I'd like to understand what sort of entity holds title to the shopping center now (you, a real estate or nominee trust, an S-Corp., C-Corp., etc.) and whether that asset comprises substantially all of the assets of the entity, for example.
Write to me directly if you like by e-mail.
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