US Tax Code Real Estate UPREIT Seven Year Rule

Question

In contributing property with a built in gain in an UPREIT transaction, the REIT promises not to sell the property for seven years. What is the tax treatment to me if they sell the property before the seven years vs sale seven years one day. Thank you.

Answer 1

This link may help.

http://www.irs.gov/irb/2007-41_IRB/ar14....