How do you delay taxes on capital gains on a property

[Jordan L.]

Okay I have been listening to the podcast and quite of few people say Rich Dad Poor Dad is there favorite read, Now I had this book for years tried to read it but never got into it, But for some reason yesterday I read it and the light bulb came on, I guess this was the time to read it because I was prepared to receive the message it conveyed. I literally finish the book yesterday : ) Now I don't want to get into politics but it really made me think why the rich gets upset when they are being tax so much and you know what I don’t blame them, because when I am in that position and work hard for my money, I don’t think I should be tax more because I am wealthy, It really open my eyes. Ok sorry for the introduction.

Here is my question

What I wanted to know is in the book Robert T Kiyosaki say Tax code 1031 “allows a seller to delay paying taxes on a piece of real estate that is sold for a capital gain through an exchange for more expensive piece of real estate. What I wanted to know is do you ever pay taxes on the property if you keep trading up for something larger? When he say you are tax when the property is liquidated, is he referring to selling it? Please explain this to me.