Many property owners are generally familiar with the idea of deferring the taxable gain on the sale of real estate by applying the proceeds of the sale to the purchase of another parcel of like-kind property under Section 1031 of the Internal Revenue Code—a so-called “Section 1031 exchange.” Steeg Law has helped many clients utilize this important provision of the tax code.  There are a couple of ways to accomplish a Section 1031 exchange: