Florida Real Property Sales Transactions by 
Foreclosures in Florida: Remedies, Defenses and Lender Liability by 
Mortgage Foreclosure and Alternatives, 12th ed. by Use of the Term Realtor
The terms REALTOR, REALTORS, and REALTOR-ASSOCIATE are collective trademarks owned by the National Association of Realtors. Acceptable substitute terms for non-members include "licensee," "real estate salesperson," "real estate agent," and the like.
Real estate is a capital asset, 26 USCA § 1221 (2012), which results in a capital gain if the property is held for the required "holding period" (normally one year). Exceptions to immediate recognition of a capital exist for the sale of a primary residence, for like kind exchanges, and where there is a "stepped up basis" or a "transferred basis."
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