My homework question is to name the four broad types of like-kind exchanges? Are they 1) Receipt of boot 2) Giving boot 3) Assumption of liabilities 4) Three-party exchanges
I wasn't sure.
There are five types defined at this web site:
http://www.transunionexchange.com/frequently_asked_questions.asp#types
They follow the question:
"What are the different types of 1031 like-kind exchanges?"
The types are called:
(1)simultaneous
(2)delayed
(3)reverse
(4)build-to-suit, and
(5)personal property exchange
More about what they mean can be found at the referenced web site
To answer your question about the four broad types of like-kind exchanges, there are actually five types defined at the website you mentioned: http://www.transunionexchange.com/frequently_asked_questions.asp#types
The five types are:
1) Simultaneous exchange: This type of exchange occurs when the property you are giving up and the property you are acquiring are transferred at the same time.
2) Delayed exchange: In a delayed exchange, you sell your property and then have a certain period of time to identify and acquire a replacement property.
3) Reverse exchange: A reverse exchange happens when you acquire a replacement property before you sell your relinquished property.
4) Build-to-suit exchange: This type of exchange involves the construction or improvement of a replacement property using the funds from the sale of the relinquished property.
5) Personal property exchange: A personal property exchange refers to the exchange of tangible personal property, such as machinery, equipment, or vehicles, that is of a similar kind and used in a similar manner.
If you would like to understand more about each type and how they work, I recommend visiting the website you mentioned (http://www.transunionexchange.com/frequently_asked_questions.asp#types) for detailed information.