1031 Exchange BiFold
Home Section 1031 of the Internal Revenue Code provides a valuable tax-saving opportunity for owners of qualified real estate assets in the United States. Under this provision, property owners can
1031 Exchange Basic FAQs
1031 Exchange Basic FAQs
Following the sale of your relinquished property, there is a critical 45-day window during which you must identify your replacement property or properties. This identification process is essential and requires clarity, ensuring that replacement properties are unmistakably specified using either a legal description or physical address.
To meet the requirements, your identification must be documented in writing, complete with a date, signature, and it must be received by your Qualified Intermediary (QI) within the stipulated 45-day timeframe. It’s crucial to adhere to these guidelines meticulously, as the 45-day requirement is strictly enforced and does not allow for any extensions.
1031 Exchange FAQs
Home A Qualified Intermediary, often abbreviated as QI, plays a crucial role in facilitating 1031 exchange transactions. This individual or entity acts as an impartial third party, independent of the
Understanding 1031 Exchanges
Home A 1031 exchange, also known as a like-kind exchange (LKE), is a powerful tax-deferral strategy in the United States that enables investors to defer paying capital gains taxes, depreciation