like-kind exchange

noun

: an exchange of business or investment property of the same kind, class, or character and excluding securities that is made pursuant to section 1031 of the Internal Revenue Code and is thus exempt from taxation

Browse Nearby Entries

See all Nearby Words

Cite this Entry

“Like-kind exchange.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/like-kind%20exchange. Accessed 27 Feb. 2025.

Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!