721 UPREIT Pros: DST contribution eligibility checklist

1. Identify the exact DST, beneficial interest and current governing documents.
2. Keep the earlier 1031 exchange file separate from the later 721 analysis.
3. Map trustee, sponsor, lender and investor authority and required consents.
4. Define the property or interest proposed for contribution.
5. Reconcile debt, liabilities, payoff or assumption terms and other consideration.
6. Obtain the receiving operating partnership's current acceptance terms and diligence list.
7. Compare supported value, adjustments, OP-unit class, exchange ratio, fees and closing statement.
8. Ask the CPA and attorney to apply Section 721 and liability rules to the exact transaction.
9. Mark the transaction completed only when executed records identify the contribution and units issued.

Educational only. Acceptance, conversion, liquidity, distributions, returns and tax treatment are not guaranteed.