Switch to text-only version for screen readers & visually impaired
Wachovia logo: go to home page


CORPORATE & INSTITUTIONAL GLOSSARY


Alphabetical Listing
Search  
K X Y Z #
L
Current TermLike-Kind Property
Like-Kind Property
This term refers to the nature or character of the property, not its grade or quality. Generally, real property is considered like-kind to all other real property as long as the properties are held for investment or productive use in a trade or business. However, for personal property exchanges the relinquished property and replacement property must be in either the same General Asset Class or Product Class.
See related terms: