What is a 1031 Exchange?
A 1031 Exchange is simply a method by which a property owner trades one property for another without having to pay federal and state income taxes. Ordinarily, the owner is taxed on gain realized by the sale of the old property, but in an exchange the tax is deferred until sometime in the future. To properly do the 1031 Exchange, there are 6 rules to follow, including handling the exchange with a qualified intermediary like ourselves. You can read more about the 6 rules of a 1031 Exchange here
We invite you to explore our website to learn more about 1031's, and why we are highly qualified to handle your exchange. If you have any questions, or are considering doing a 1031 exchange, please give us a call. We are here to consult with you.