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capital gains tax

I just met with an accountant and I can avoid capital gains tax  entirely on a land sale if I take the payments over ten years instead of a lump sum. My question is what happens if the buyer gets killed in a car accident a year from now? Have I lost my land AND the payments? Or what if he just doesn't have the money to make a payment?

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BA Deere
Honored Advisor

Re: capital gains tax

You`d end up with the land back if they didn`t fill their end of the contract.  But make dang sure you have a lawyer writting this up.