1031 Exchanges & Reverse 1031 Exchanges
As your 1031 Exchange Experts let us help you coordinate, close and hold funds on your 1031 Exchange.
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We also serve as "Exchange Accommodation Titleholder" for holding title to replacement property within a Reverse 1031 Exchange.
RESIDENTIAL & COMMERCIAL
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Our exchange funds are deposited with an FDIC insured institution in an interest bearing account to maximize your funds while finding your replacement property.
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What is a 1031 Exchange?
A 1031 exchange allows you to defer various types of taxes - including capital gains, when you sell a business asset or investment property and "exchange" it for another asset that is deemed a like-kind eligible property. ​
ENGAGE A QUALIFIED INTERMEDIARY (QI)
A QI will structure the exchange, prepare related documents, and hold proceeds from the sale of relinquished property.
ASSIGN RIGHTS TO SELL
THE RELINQUISHED PROPERTY
After executing a sales contract with
the buyer of the relinquished
property (the property you are selling), you assign your rights to sell the relinquished property to the QI.
SELL THE RELINQUISHED PROPERTY
The sale proceeds go to the QI
who hold the funds in an account required by Treasury Regulations.
You then have 45 days to identify
up to three properties to replace
the one you just sold.
ASSIGN RIGHTS TO
BUY REPLACEMENT PROPERTY
After executing a sales contract with
the seller of the replacement property (the property you wish to buy) you
assign your rights to buy the
replacement property to the QI.
BUY REPLACEMENT PROPERTY
Upon your signed direction to the QI, the exchange funds will be paid directly to the seller or closing company. You must close no later than 180 days after closing on your relinquished property.
EXCHANGE IS COMPLETE
Congratulations! The taxes on gains are deferred, so you do not owe anything to the IRS and you have followed the processes required by the IRS and Treasury regulations.
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Contact us for more details!