LIKE-KIND EXCHANGE

like-kind exchange.An exchange of trade, business, or investment property (except inventory  or securities) for property of the same kind, class, or character. • Such an exchange is not taxable unless cash or other property is received. See IRC (26 USCA) § 1031. [Cases: Internal Revenue  3184.C.J.S. Internal Revenue §§ 120–121, 124.]
[Blacks Law 8th]