COMMON 1031 EXCHANGE QUESTIONS*
Do I have to have my replacment property already lined up BEFORE I start a 1031?
You have 45 calendar days after you sell your 1031 Exchange property before you must identify your replacement properties. You do not have to have your replacment properties secured before you sell.
How long does a 1031 Exchange take?
There are some time restrictions that apply when you do a 1031 Exchange. Identification and exchange time restrictions start once you have sold your Relinquished Property. The rules even permit you to exchange for property to be constructed to your plans. Great stuff here for tax planning.
What is a 1031 Exchange?
In a nutshell it’s a way for owners of business and investment Real Estate to sell their property and buy other like kind property without paying the Capital Gains Tax. These transactions are known as deferred exchanges, or 1031 exchanges, and allow the investor to continue his investment in another property without loosing investment equity to taxes.
**This content is for information purposes only. We are not associated with any Qualified Intermediary nor are we a Qualified Intermediary (QI). Please consult your Tax Attorney for finding a QI and to obtain additional information about conducting a 1031 Exchange.
1031 Exchange Real Estate Information