A procedure under which title to either the Taxpayer’s relinquished or replacement property is acquired by the Exchange Accommodation Titleholder in order to facilitate a reverse or build-to-suit exchange, pursuant to Revenue Procedure 2000-37.

This refers to the fact situation where the taxpayer may be a partnership or limited liability company and one or more partners or members wish to do an exchange of the property while other partners or members wish to cash out. These types of transactions are complicated and benefit from the advice of the taxpayers’ tax professionals.

A transfer of personal property (or "chattel" as opposed to real-property) as part of a tax-deferred exchange transaction involving personal property held for trade, business, or investment. This type of exchange can be used to dispose of older property such as; collector cars, artwork, farm equipment, breeding stock, aircrafts, telecommunications equipment, heavy equipment, ect. - and replace it with newer like-kind equipment.

Principal, interest, tax and insurance; the components of a mortgage payment which may include property taxes and both property insurance and mortgage insurance.

An amount borrowed or the balance owed on a loan, excluding interest or the money that is used to pay down the balance owed on a loan.

(PITI) The components of a mortgage payment which may include property taxes and both property insurance and mortgage insurance.

A private placement memorandum (PPM) is a legal document provided to prospective investors when selling securities in a business. It is also referred to as an offering memorandum or offering circular.

A negotiable instrument in the form of a written, signed, unconditional commitment to pay a certain amount of money (principal and interest) either on demand or at a specified time.