South Carolina § 12-6-5595 Timber deeds as real property conveyances.

South Carolina Statutes

§ 12-6-5595 — Timber deeds as real property conveyances.

South Carolina·Title 12 TAXATION·Ch. 6 SOUTH CAROLINA INCOME TAX ACT

For purposes of the nonrecognition of gain under Section 1031 of the Internal Revenue Code and comparable provisions of state law, the conveyance by timber deed of the right to cut standing timber for a period of time exceeding thirty years is considered a conveyance of a real property interest, and as such, under the laws of this State, is a like-kind exchange with other similar conveyances of a real property interest or with conveyances of similar investment real property owned in fee simple.

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For purposes of the nonrecognition of gain under Section 1031 of the Internal Revenue Code and comparable provisions of state law, the conveyance by timber deed of the right to cut standing timber for a period of time exceeding thirty years is considered a conveyance of a real property interest, and as such, under the laws of this State, is a like-kind exchange with other similar conveyances of a real property interest or with conveyances of similar investment real property owned in fee simple.

South Carolina § 12-6-5595 (Timber deeds as real property conveyances.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.