1031.Exchange INTELLIGENCE NETWORK
License territory Acquire
PROFESSIONAL ROLES

Tax attorney

Also called: tax counsel · 1031 attorney

⌕ Search dictionary
PLAIN-ENGLISH DEFINITION

An attorney advising on tax-law issues, transaction structure and legal risk.

What it means in practice.

Complex exchanges may require tax counsel to address entity, related-party, partnership, reverse/improvement, ownership and interpretive issues.

Why it matters.

Legal advice and QI facilitation are distinct roles.

Additional notes.

Complex exchanges may require tax counsel to address entity, related-party, partnership, reverse/improvement, ownership and interpretive issues.

CONNECTED LANGUAGE

Related definitions.

Core 1031Qualified intermediaryA commonly used independent facilitator that enters into an exchange agreement and helps structure transfers so the taxpayer does not simply receive the exchange proceeds.Tax & BasisRelated partyA person or entity related to the taxpayer under federal tax rules.Exchange StructuresReverse exchangeA structure used when the replacement property is acquired before the relinquished property is transferred.
KEEP LEARNING

Build the vocabulary before the transaction clock starts.

Explore the federal framework, exchange structures, replacement-property intelligence and professional roles connected to this term.

Open learning centerSearch another term