Section 1034
Definition of "Section 1034"
Provision in the Internal Revenue Code applicable to the sale of an individual's house. The gain or loss is deferred by adjusting the cost basis of a new house bought within two years of the date of sale of the old house. The replacement cost for the new house must be equal to or greater than the net selling price of the old house. the net selling price equals the gross selling price less expenses associated with the sale such as brokerage fees." section 1221
Popular Real Estate Terms
A rental stipulation a varying rental rate. Rental rate are determined tied to periodic appraisals or an inflation or an inflation index. The provision is more common in a long-term leases. ...
A two-by-four used for wall resilience and partitioning. Studs rest on it. ...
A clause that may be inserted in a listing agreement stating no commission will be paid to the broker until the property title has actually been transferred. Normally, willing and able ...
An insurance contract or home warranty, usually for one year, covering electrical, plumbing, heating, etc. ...
Created by the US Congress in 1965, the Department of Housing and Urban Development (HUD) is the agency principally responsible for federal programs relating to housing and urban ...
Roof with one side that is at a sloped angle. ...
Group of investors pooling their money to purchase real estate. ...
Retail businesses next to each other with common walls on each side and the same roof. ...
It is intended to stimulate private investment in distressed cities and urban counties by providing federal "seed money' to attract private funds for such projects as industrial parks and ...
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