Like-kind refers to the nature of the property. The IRS definition of Like-Kind is "any property held for productive use in a trade or business or held for investment purposes".

Properties are of like-kind, if they are of the same nature or character, even if they differ in grade or quality. Personal properties of a like class are like-kind properties. However, livestock of different sexes are not like-kind properties. Also, personal property used predominantly in the United States and personal property used predominantly outside the United States are not like-kind properties.

Real properties generally are of like-kind, regardless of whether the properties are improved or unimproved. However, real property in the United States and real property outside the United States are not like-kind properties.

You can exchange any combination of the below types of real estate:

- Raw/Vacant Land
- Multi Family Rentals
- Single Family Rental
- Commercial
- Shopping Center
- 30 year or more leasehold

An example of Like-Kind property would be: Vacant Land for a Multi Family Rental.

Property ineligible under 1031 guidelines:

- Primary residence
- Partnership interests
- Money
- Stock, Bonds or Notes
- Foreign Property
- 30 year or more leasehold