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LSDefine

Simple English definitions for legal terms

Starker exchange

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A quick definition of Starker exchange:

Starker exchange: This is another term for a 1031 exchange. It's a way for people to sell one property and buy another without paying taxes on the sale. It's like trading one toy for another toy without having to give any money to the grown-ups.

A more thorough explanation:

A Starker Exchange is a type of tax-deferred exchange, also known as a 1031 exchange. It allows a property owner to sell their property and use the proceeds to purchase a like-kind property without paying capital gains taxes on the sale. The name "Starker" comes from a court case in which T.J. Starker successfully used this type of exchange to defer taxes on the sale of his timberland.

For example, let's say that John owns a rental property that he purchased for $200,000. The property has appreciated in value, and John now wants to sell it for $300,000. If he were to simply sell the property, he would owe capital gains taxes on the $100,000 profit. However, if John uses a Starker Exchange, he can reinvest the $300,000 into a like-kind property, such as another rental property, without paying taxes on the sale of the first property.

Another example would be if a business owner wanted to sell their current office building and purchase a larger one. By using a Starker Exchange, they can defer the taxes on the sale of their current building and use the proceeds to purchase a larger one without incurring a tax liability.

Overall, a Starker Exchange is a useful tool for property owners who want to sell their property and reinvest the proceeds without paying capital gains taxes.

stare decisis | State

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glove
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@JumpySubsequentDolphin: I already had blonde highlights but my natural hair color is light enough that I didn’t need to bleach it
JumpySubsequentDolphin
13:41
interesting thank you
triplethread
13:41
just get box braids jumpy
JumpySubsequentDolphin
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LMFAOOOOO
triplethread
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then we can twinnnn yassss
snow
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my hair is bleach and heat damaged and i need iNTENSE haircare rn
JumpySubsequentDolphin
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k18 isnt cutting it anymore
triplethread
13:41
box braids are perfect for that
triplethread
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just leave ur hair alone
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JumpySubsequentDolphin
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@triplethread: but then id have to wear it curly
triplethread
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whats wrong with curly hair
triplethread
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mine is curly!!!!
JumpySubsequentDolphin
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i love curly hair but not on me :(
triplethread
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ah the self hating poc
JumpySubsequentDolphin
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PLEASE
triplethread
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hope u get over that
soap
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call an ambulance
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i use henna cuz it’s supposed to be less damaging for your hair and I kinda gave up on heat styling. i put in some olaplex no 6 and let it air dry
GreyCeaselessMammoth
13:47
i'm in the process of growing out all my cleach mostly bc i can't afford it anymore
triplethread
13:47
my roommate i think is addicted to dying and bleaching her hair
JumpySubsequentDolphin
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@bunnynoise: ohhh no way. does your hair come out more red toned or more orange toned? ive seen both results depending on the henna
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soap
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“High volume application period” 🫡
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https://www.amazon.com/gp/aw/d/B00ARKH0VU?psc=1&ref=ppx_pop_mob_b_asin_title this is the exact one I use in the auburn color and it comes out more red toned. I think it looks at least somewhat natural bc people ask me if the color is real a lot
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