Section 1031 of the Internal Revenue code permits investors in certain circumstances to defer capital gains tax on the exchange of like-kind properties.  If you are an investor considering an exchange, here are a couple websites to help you get started:

IRS site:

     http://www.irs.gov/businesses/small/industries/article/0,,id=98491,00.html

Federation of Exchange Accommodators (FEA)

       http://www.1031.org/about1031/faq.htm

Please note:  The information provided on this page and elsewhere on this website is for educational purposes only and not to be construed as legal or tax advice.  Please consult with an attorney and/or tax advisor before taking any action.