Highlights:

• For a significant proportion of real estate market participants, like-kind exchanges (LKE) provide an important vehicle to dispose and acquire property.
• Like-kind exchanges are available to individuals, partnerships, corporations, limited liability companies, as well as trusts.
• The main requirement of a like-kind exchange is that the disposition of one property and acquisition of another property must be part of an integrated transaction, rather than two individual transactions.
• REALTORS® are active participants in like-kindexchanges as investors, brokers and agents, intermediaries and professional advisors.
• Sixty-three percent of REALTORS® participated in a like-kind exchange transaction during 2011-14.
• In 2014, REALTORS®' average fair market value of all transactions was $7.0 million
• Like-kind exchanges accounted for 39 percent of total FMV, or $2.7 million per respondent.
• Ninety-six percent of REALTORS® indicated a decrease in real estate values in case of repeal of like-kind exchange provisions.
  

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