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<p class="MsoNormal">I sent this question to Mary Foster, who authored the treatise, Tax-Free Exchanges.<span style="mso-spacerun:yes">
</span>Her answer follows:<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Cutting rights are not like-kind to a fee interest in real estate if they are limited in duration or quantity. Perhaps, a perpetual right to cut timber would possibly be considered like-kind to real estate. The IRS position, supported
by case law, is that cutting rights are personal property. See Oregon Lumber Co. v. Comm. of Revenue. This is true even if cutting rights are considered real property under Washington state law, because federal tax law governs.<span style="mso-spacerun:yes">
</span>See IRS Tech. Advice memo 9525002.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><span style="mso-ascii-font-family:Calibri;mso-hansi-font-family:Calibri;mso-bidi-font-family:"Times New Roman";color:#1F497D"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family:"Times New Roman";color:#002060;mso-no-proof:yes">John Teutsch<o:p></o:p></span></b></p>
<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family:"Times New Roman";color:#002060;mso-no-proof:yes">Teutsch Partners, LLC<o:p></o:p></span></b></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family:"Times New Roman";color:#002060;mso-bidi-font-weight:bold;mso-no-proof:yes">Cell (206) 920-8888</span><span style="mso-ascii-font-family:Calibri;mso-fareast-font-family:"Times New Roman";mso-hansi-font-family:Calibri;mso-bidi-font-family:"Times New Roman";color:#1F497D;mso-no-proof:yes"><o:p></o:p></span></p>
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<p class="MsoNormal"><span style="mso-ascii-font-family:Calibri;mso-hansi-font-family:Calibri;mso-bidi-font-family:"Times New Roman";color:#1F497D"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif";mso-fareast-font-family:"Times New Roman"">From:</span></b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif";mso-fareast-font-family:"Times New Roman""> wsbarp-bounces@lists.wsbarppt.com
[mailto:wsbarp-bounces@lists.wsbarppt.com] <b>On Behalf Of </b>Jim Doran<br>
<b>Sent:</b> Monday, April 20, 2015 6:43 PM<br>
<b>To:</b> 'WSBA Real Property Listserv'<br>
<b>Cc:</b> Lloyd McGee<br>
<b>Subject:</b> Re: [WSBARP] 1031 Exchange and Like Kind Property<o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D">Ok. The timber gets cut under a contract to buy it, so I guess that means it is sold as real estate, right.
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D">Who do you use as the 1031 faciltator?<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D">James R. Doran<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D">Attorney at Law<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;color:#1F497D">100 E. Pine Street – Suite 205<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;color:#1F497D">Bellingham, WA 98225<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;color:#1F497D">(360)393-9506<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;color:#1F497D"><a href="mailto:jim@doranlegal.com">jim@doranlegal.com</a><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;color:#1F497D"><a href="http://www.doranlegal.com">www.doranlegal.com</a><o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D"><o:p> </o:p></span></p>
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<p class="MsoNormal" style="mso-outline-level:1"><b>From:</b> <a href="mailto:wsbarp-bounces@lists.wsbarppt.com">
wsbarp-bounces@lists.wsbarppt.com</a> [<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">mailto:wsbarp-bounces@lists.wsbarppt.com</a>]
<b>On Behalf Of </b>Bryce Dille<br>
<b>Sent:</b> Monday, April 20, 2015 5:21 PM<br>
<b>To:</b> WSBA Real Property Listserv<br>
<b>Subject:</b> Re: [WSBARP] 1031 Exchange and Like Kind Property<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="color:#1F497D">The sale of standing timber is considered as real estate see WAC 458-61A-113 since it is subject to the real estate excise tax. I have done several of these types of 1031s and never questioned as long as timber
is still in the ground when sold.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">This transmission contains confidential attorney-client communications and may not be disclosed to any person but the intended recipient(s). If this matter is
transmitted to you in error, please notify the sender immediately.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman","serif";color:#1F497D"> <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">Bryce H. Dille
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">Campbell, Dille, Barnett & Smith, PLLC<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">P.O. Box 488<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">Puyallup, WA 98371<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">Voice: 253.848.3513<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">Fax: 253.845.4941<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D"><a href="mailto:bryced@cdb-law.com"><span style="color:blue">bryced@cdb-law.com</span></a><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D"> <o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">Business Entity Creation and Management<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">Business, Government and Tax Law<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">Real Estate and Land Use, Residential, Commercial and Condominium Development<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">Real Estate and Commercial Transactions & Closings, Including Performing Services as IRS Section 1031 Exchange Facilitator<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">Estate Planning, including Wills and Trusts, and Probate Administration<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
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<p class="MsoNormal" style="mso-outline-level:1"><b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif"">From:</span></b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif"">
<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">wsbarp-bounces@lists.wsbarppt.com</a> [<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">mailto:wsbarp-bounces@lists.wsbarppt.com</a>]
<b>On Behalf Of </b>Jim Doran<br>
<b>Sent:</b> Monday, April 20, 2015 4:10 PM<br>
<b>To:</b> 'WSBA Real Property Listserv'<br>
<b>Subject:</b> [WSBARP] 1031 Exchange and Like Kind Property<o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:12.0pt">Here is the line from the IRS information website that I think clearly denies the use of a 1031 Exchange to a the situation where the owner of real property with timber on it sells the timber and then wants
to use the proceeds from the timber sale to buy more real estate. The trees are personal property, are they not?<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal">“Real property and personal property can both qualify as exchange properties under Section 1031; but real property can never be like-kind to personal property.”
<span style="font-size:12.0pt"> <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">James R. Doran<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">Attorney at Law<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt">100 E. Pine Street – Suite 205<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt">Bellingham, WA 98225<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt">(360)393-9506<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt"><a href="mailto:jim@doranlegal.com">jim@doranlegal.com</a><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt"><a href="http://www.doranlegal.com">www.doranlegal.com</a><o:p></o:p></span></p>
<p class="MsoNormal"><o:p> </o:p></p>
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