Section 1031 of the Internal Revenue Code provides that no
gain or loss shall be recognized on the exchange of property held for
productive use in a trade or business, or for investment. A tax-deferred
exchange is a method by which a property owner trades one or more
relinquished properties for one or more replacement properties of
"like-kind", while deferring the payment of federal income taxes and
some state taxes on the transaction.
Four Basic Rules of 1031 Exchanges
Property must be held for investment or productive use in trade or business.
Property must be exchanged for like-kind property.
Replacement properties must be identified within 45 days after the relinquished property is transferred.
The exchange must be completed (replacement property received) by the earlier of 180 days or the tax return due date.
Cape Cod Area Tides 
Barnstable, MA Listings