Many people are familiar with a Like-Kind Exchange (LKE) as a strategy to potentially save taxes on the sale of real estate. While it is true LKEs can be used to defer significant taxes, the process required to implement LKEs it often not well understood. The following are answers to a few of the more common questions about LKEs. A better understanding of LKEs may help you determine if a LKE may be an option for your next real estate transaction.