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business or investment would be considered so. The most significant advantage of a tax-free exchange is that it enables you to obtain the property you want by using the inflated current value of your present property without having to pay the tax on the profit because it is, in effect, an exchange not a sale. But if you are in this position, by all means, have a professional handle the details. It’s no arena for amateurs.
If there is anything we can do to help you in the field of real estate, please phone or drop in at EILEEN M. DAY, REALTOR, The Clopton House, Washington. Va. 22747. Phone: 675-3400. We’re here to help.
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