Does farmland have to be exchanged for farmland or can it be exchanged for other types of real property such as a house or business building?

Does farmland have to be exchanged for farmland or can it be exchanged for other types of real property such as a house or business building?
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Answer :

The definition of "like-kind" means that ANY real estate can be exchange for ANY other real estate (real estate has different definitions depending on the state..for example a boat dock and a mobile home are real estate in New Hampshire). You can It can be exchanged to other types of property.for details just visit these two websites links. http://www.realtyexchangers.com/1031_Exchange_Information_Center/Topic_2_-_Qualified_Property.php http://www.leverageexchange.com/exchange_information.shtml
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