Anonymous
Not applicable

Investing

We can't see the agreement and even if we did we can't be sure what the terminology means.  why do you need to know?  

reg 1.1031(k)-1(a)

For purposes of section 1031 and this section, a deferred exchange is defined as an exchange in which, pursuant to an agreement, the taxpayer transfers property held for productive use in a trade or business or for investment (the “relinquished property”)

 

so as a guess I would say it's the sales price of the relinquished property less any mortgages or debts thereon.