To his rescue came quirky Section 1031 of the tax code, under which the owner of investment property (a farm, an airplane, you name it) who swaps it for similar property does not recognize a taxable gain.

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But in the US chefs have typically opened more accessible eateries as a name brand hook for the property.

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For instance, it helped the Hyatt hotel chain name a new property Hyatt Regency Trinidad instead of Hyatt Regency Port of Spain.

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