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Like most Americans, Chris Pappas, associate director with Marcus & Millichap’s Net Lease Division, is keenly attuned to what is happening in the Presidential race. 

If former Vice President Joe Biden wins, Pappas is prepared for the demise of the 1031 exchange program. In July, Biden proposed ending 1031 “like-kind” exchanges for investors with annual incomes above $400,000 to fund child care and care for the elderly, which is projected to cost $775 billion over 10 years.

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