A simultaneous exchange must take place for a transaction to qualify as a like-kind exchange.

Name: A simultaneous exchange must take place for a transaction to qualify as a like-kind exchange.
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A delayed exchange can also qualify as a like-kind exchange under certain conditions. In a delayed exchange, the sale of the relinquished property and the purchase of the replacement property do not occur simultaneously but are coordinated through an intermediary.

A Simultaneous Exchange Must Take Place for a Transaction to Qualify