1031 Exchanges

These rules allow owners of certain types of like kind Real and Personal property to sell their property and buy other like kind property without paying the Capital Gains Tax.

The like kind provision for Real property is quite broad, and includes Land, Rental and Business property, any of which, can be exchanged for the other.

This type of property must be in productive use in a business (depreciable property), and can only be exchanged for the same type of property.

The rule also requires that the "Exchanger" use a safe harbor to hold the proceeds while the exchange was in progress, and spells out what those safe harbors are.

The only practical safe harbor for most "Exchangers" is a "Qualified Intermediary."

Real Estate Group is a qualified intermediary and is set up to assist you in making a smooth and easy exchange.

Please contact us for further details.

Information from www.RealtyExchangers.com