Like Kind Replacement Property: Animal, Vegetable, Or Mineral

This Article examines the development of the federal nonrecognition statutes and like kind provisions. The author argues that, although the statute was enacted in 1921 to reduce uncertainty and litigation, there are several unanswered questions and many like kind issues have been resolved on an ad hoc basis. The author traces the development of rules and standards, and suggests approaches that would lead to more logical results.