Personal Property Exchanges

1031 Exchanges are not limited to real property. Personal property can also be exchanged for other personal property of "like-kind" or "like-class". Exchanges involving personal property give investors the ability to engage in the most diverse types of exchanges possible. Tangible depreciable personal property is considered "like-class" if it falls within the same General Asset Class, or Product Class as described in Sectors 31 through 33 of the North American Industry Classification System (NAICS). 

Examples of tangible depreciable or non-depreciable personal property includes:

• Industrial Machinery

• Aircraft

• Passenger Vehicles

• Trucks

• Collectibles & Artwork

• Construction Equipment

• Agricultural Equipment

• Racehorses & Livestock

• Marine Vessels

• Electric Generation Equipment

Other forms of "like-kind" intangible personal property can be exchanged as well:

• Broadcast Spectrums

• Franchise Licenses

• Wireless Telephone Licenses

• Copyright Licenses