Statute · New York General City Model
N.Y. General City Model § 16 — Exchange of property when no gain or loss is realized
N.Y. General City Model § 16
- Type
- Statute
- Source
- New York General City Model
- Jurisdiction
- New York
- Current through
- Nov 4, 2026 (NY Senate Open Legislation)
§ 16. Exchange of property when no gain or loss is realized. When property is exchanged for other property and no gain or loss is realized under the provisions of the preceding section, the property received shall be treated as taking the place of the property exchanged therefor. Where no gain…
Citator
N.Y. General City Model § 16 — Exchange of property when no gain or loss is realized is in force in the current edition of the Code, and nothing recorded condemns it.
§ 16. Exchange of property when no gain or loss is realized. When property is exchanged for other property and no gain or loss is realized under the provisions of the preceding section, the property received shall be treated as taking the place of the property exchanged therefor. Where no gain or loss is realized under the provisions of subdivision eleven of the preceding section, the basis of the property received shall be the same as it would be in the hands of the transferror determined in accordance with the provisions of section fourteen of this part.