NAREIT Joins Groups Calling on Senate Finance to Retain Like-Kind Exchange Rules

NAREIT and its partners in the Like-Kind Exchange Stakeholder Coalition are encouraging the Senate Finance Committee to retain current law regarding like-kind exchanges under section 1031 of the Internal Revenue Code. The organizations also backed retaining the current unlimited amount of gain deferral.

In a letter sent to Senate Finance Committee Chairman Orrin Hatch (R-UT) on July 17 in response to his request for comments from tax reform stakeholders, the coalition emphasized that “like-kind exchanges are integral to the efficient operation and ongoing vitality of thousands of American businesses.”

Real estate is among a broad range of industries that rely on like-kind exchanges as part of their business. The letter cites a study by researchers at the University of Florida and Syracuse University which concludes that without like-kind exchanges, businesses and entrepreneurs would have less incentive and ability to invest in real estate and make other capital investments.

(Contact: Dara Bernstein at

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