A taxpayer may exchange real property for an interest in the Delaware statutory trust described above without recognition of gain or loss under § 1031, if the other requirements of § 1031 are satisfied.

My only regret with maximum overfunded life insurances is that I didn't take the time to investigate it fully ten years earlier.Personally I am also maxing out my Roth IRA and 401k, and everything over is going into the life insurance that has most of the same characteristics as a Roth QRP with some more advantages (no RMD, no maximum yearly limit, no penalty for early withdrawal, no limit on loans, no direct recognition on loan, steady returns and on top of it a 'free' life insurance).Some people will even completely pass on the qualified retirement plans and only use life insurance instead as their primary savings/retirement/college fund account.

You can do the same for people with facial tattoos, smokers, people that drive a Miata, and professional clowns.

With enough text recognition and teaching a program to account for title issues, i.e. unpaired trusts/certificates of satisfaction, a program could probably generate a commitment letter with enough details on what a processor needs to address for title underwriting.Down the line after a commitment letter is generated, someone might do quality control and verify the commitment letter caught everything before going to closing. 

What ‘statutory non-recognition’ means is that any U.S. court judgment is completely worthless in the Cook Islands.

Almost don't know what to do with the recognition😎.A national talk on the subject: 

If that's the case then there would be no recognition of gain until the LLC sells the property - unless the LLC also does a 1031 to buy something in KY or wherever in which case tax is once again deferred - lather rinse repeat.

That’s what really rocks my boat - receiving recognition for my efforts on their behalf.

Even if you haven't or don't plan to form an LLC, it's not a bad idea to notarize your contract/operating agreement to spell out "if this happens, we do this" for every conceivable potentiality regarding the property and each other - particularly with regards to if one of you wants to sell and the other doesn't, or if one of you ceases, even temporarily, being able to meet your obligations to the property for any reason at all.Just a few of the things off the top of my head from one of my contracts:Noting which parties contributed how much towards capital.Establishing right of first refusal in the event of one party wishing to sell.Where bank accounts, credit cards etc are held, and who can do what with them.Cash flow protocol (all rental income goes into X account, $Y each money gets autotransferred to savings, $Z each month is put towards maintenance, etc).Disbursements of surplus money in X account can only be made if certain conditions are met.Explicit recognition that all bills may only have one party's name but are a shared responsibility between or across partners.What items require unanimous consent to proceed from partners?

Those of us who have experienced it firsthand understand the immense difficulty involved and deserve recognition for successfully navigating this complex endeavor.