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Real, Intellectual, and Personal Property List two characteristics each of real, intellectual, and personal property. Do owners of real, intellectual, and personal property each have the same rights under the law? List how each type of property is treated under the law. Explain why it is in the best interest of society to treat these â¦ Real, Intellectual, and Personal Property List two characteristics each of real, intellectual, and personal property. Do owners of real, intellectual, and personal property each have the same rights under the law? List how each type of property is treated under the law. Explain why it is in the best interest of society to treat these types of property the same or differently. Guided Response: Respond to at least two of your classmatesâ postings by Day 7.
Real property and personal property can both qualify as exchange properties under Section 1031; but real property can never be like-kind to personal property. In personal property exchanges, the rules pertaining to what qualifies as like-kind are more restrictive than the rules pertaining to real property.As an example, cars are not like-kind to trucks. Finally, certain types of property are specifically excluded from Section 1031 treatment.he basis of property acquired in a Section 1031 exchange is the basis of the property given up with some adjustments. This transfer of basis from the relinquished to the replacement property preserves the deferred gain for later recognition.