A short sale is a financial transaction where the lender or lenders consent to receive an amount that is lower than the total mortgage debt owing by the homeowner. Occasionally, the lender may choose to waive the discrepancy, while in other instances, the homeowner is required to negotiate with the lender to resolve the remaining debt. This situation commonly occurs when the homeowner is experiencing...
A tax-deferred transaction that is permitted by Section 1031 of the United States Internal Revenue Code is referred to as a 1031 exchange, which is also known as a like-kind exchange. If investors reinvest the profits from the sale of certain types of investment or commercial assets into another "like-kind" property, they are able to postpone the payment of capital gains taxes that would otherwise be due...