Dillon v. Continental Casualty Co.

ORDER DENYING CROSS-MOTIONS FOR SUMMARY JUDGMENT

Re: Dkt. Nos. 148, 155

EDWARD J. DAVILA, United States District Judge

I. INTRODUCTION

The Internal Revenue Code permits owners of investment property to defer capital gains taxes that would otherwise be due upon the sale of the property through a transaction known as a “1031 exchange.” “In a typical 1031 Exchange, an exchanger [the owner of the investment property] sells'a parcel of real estate and has 45 days to identify a ‘replacement’ property, and 180 days to close on the purchase of the ‘replacement’ property.” Compl, at ¶24. For taxes to be…