The 1031 Like-Kind Exchange has often been credited as a key tool for investing in inclusive communities and small businesses. Proposed changes to the 1031 Exchange could have a critical impact on commercial real estate and communities throughout the country.

NAR encourages members to defend 1031 by sharing how they have used it to bring development and economic benefit to their community.

Learn more about commercial ethics while fulfilling your Code of Ethics requirement! The present cycle will end this year on December 31st.

Do you think Ron is in violation of the Code?

A. No. Ron disclosed all pertinent information about the financial operation of

the motel in the prospectus.

B. Yes. Ron withheld pertinent information about the financial operation of

the motel in the prospectus.

C. No. The disclaimer stating the prospectus was "accurate to the best of our

knowledge and belief" protects Ron from any omissions.

D. Yes. Ron had an obligation to arrange a meeting between Jeff and the

previous owner to review the motel's financial records.

What was Ron's obligation to Jeff?

A. To fully disclose financial information that he reasonably should have known

to be relevant and significant.

B. To formulate an optimistic prospectus to encourage Jeff to purchase the

property.

C. To accurately convey information given to him by the seller.

Registration information and details on the developments we'll be visiting to follow!

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