Which of the Following Statements About the Transfer of Debt

question 48

Multiple Choice

Which of the following statements about the transfer of debt in a like-kind exchange is false?

• A) The party relieved of debt treats the relief as boot received.
• B) The party assuming debt treats the assumption as boot paid.
• C) If both properties in the exchange are subject to debt, both parties will be treated as receiving boot.
• D) None of these choices are false.

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