The intent of these standards is not to instruct in the details of appraising, but rather the emphasis is on those particular aspects of valuation that pertain to assessing in Utah. Detailed instruction in appraisal theory and practice is provided through appropriate registration and certification course work.
Much of the language in these standards is common to other assessment publications as well as other disciplines; however, its use here is restricted to the definitions provided in the “General Information Section”.
Internal Revenue Code, Section 1031, states that neither gain nor loss is recognized if property held for investment or for productive use in a trade or business is exchanged for property held for investment or for use in a trade or business. There are several types of 1031 exchange methods used today, including delayed exchanges, simultaneous exchanges, and reverse exchanges.
I’VE SPENT 50 YEARS as a lawyer, business advisor, and deal nego-
tiator for real estate tycoons at the top of the world’s toughest real
estate market—New York City. I’ve represented or negotiated with
great real estate minds like Harry Helmsley, Sam LeFrak, Bill Zeck-
endorf, and Donald Trump. It’s been my good fortune to spend many
of the best years of my career as Donald’s right-hand man.
It’s rare that someone should develop an obsession with Wall Street with
out sharing its driving passion, the accumulation of money. It would prob
ably take years of psychoanalysis to untangle that contradiction, not to
mention others too sensitive to name here.
No doubt that contradictory obsession has early roots, but its most po
tent adult influence was probably my first job out of college, at a small
brokerage firm in downtown Manhattan.