To Qualify for a 1031 Exchange, the Property Must Be

question 69

True/False

To qualify for a 1031 exchange, the property must be an investment property or one that is used in a trade or business (e.g., a warehouse, store, or commercial office building).

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Definitions:

Self-Fulfilling Prophecy

A belief or expectation that influences behavior in a way that causes the belief to become true.

Stereotyping

Involves assigning a set of characteristics to people based on their membership in a particular group or category, often leading to oversimplified and unfair judgments.

Discrimination

The inappropriate and unjustified treatment of people based on the groups they belong to.

Prejudice

Preconceived opinions or judgments about people or groups, often negative and not based on actual experience or facts.