Generally, aircraft and personal property sellers complete tax-deferred exchanges to defer the capital gains tax on the disposition of their investment properties. However, there are many additional underlying reasons an investor might want to exchange one property for another. The motives often fall along standard risk-reward or income-maintenance scales. These are some of the typical non-tax motives to exchange:

• Exchange from fully depreciated property to a higher value property that can be depreciated.

• Exchange from business property which cannot be refinanced, to improved property, which will support a new loan, thereby giving the client the ability to obtain cash after the acquisition of the replacement property.

• Exchange from passenger type aircraft to a freight carrier-configured aircraft to increase revenues.

• Exchange from a stagnant or slowly appreciating property to a property in an make/model with faster appreciation.

• Exchange for a property or properties that may be easier to sell in the coming years.

• Exchange to meet the client's company growth requirements.

• Exchange from several smaller aircraft to one larger aircraft to meet changing requirements

• Exchange from a larger aircraft to several smaller aircraft to accomodate changing flight requirements.

• Exchange from a partial interest in one aircraft to a larger (or full) interest in another property.