What is a 1031 Exchange?
An Article on 1031 Exchange
There are a few rules that must be followed in 1031 Real Estate Exchanges. And unfortunately the IRS will disallow the transaction as a 1031 exchange if the requirements are not met which will then make the taxes due.
One rule sets the amount of time you have from selling one property and the acquiring of the replacement property. Basically, a target property or like kind investment property must be identified in no more than 45 days and this replacement property must actually be acquired in 180 days or less. There is a great deal of flexibility in these rules but you need to have or be an expert in handling the Exchange. The expert, be it you or a Pro, must know and understand both the rules and where there are flexibilities.
Full article at: What is a 1031 Exchange
Last modified July 13, 2007Author 1239 > has blogged 13 times
