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Surety
(redirected from Accommodation party)

    Also found in: Legal, Wikipedia 0.03 sec.
Surety
When a guarantor or a sum of money is held as a guarantee for a loan in good faith.

Notes:
It is similar to a deposit on a loan or contract.

See also: Guarantor
Surety
An individual or corporation that guarantees the performance or actions of another.
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? Mentioned in ? References in periodicals archive
 
170 charitable contribution deductions and the use of an exempt entity as an accommodation party in a transaction that will shift tax benefits.
Abusive tax transactions involving exempt organizations by Underwood, Joyce M. / The Tax Adviser
* The accommodation party must hold legal title to the property [during the transaction] and also hold other indicia of ownership that are recognized under commercial law, such as a contract for deed.
IRS blesses reverse exchanges by MILLER, DOUG / Real Estate Weekly
On the taxpayer's behalf, an accommodation party purchased property intended to be replacement property for the park property.
Non-safe-harbor reverse-exchange guidance by Bakale, Anthony / The Tax Adviser
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