This paper is a basic overview of IRC section 1031 tax deferred exchanges. It is not intended to be a guide to such an exchange, as it may omit rules and considerations that could impact upon someone actually conducting a 1031 exchange.
This paper will use the terms “old property” for the property being sold and “new property” for the property being purchased. A “property” can consist of more than one piece of real estate.
We have participated in many 1031 exchanges and usually have several such transactions every year. However, we are not licensed to provide either legal or tax advice. Licensed professionals such as attorneys or CPA’s should be consulted for such advice.
We are not Qualified Intermediaries or Accommodators (see item 10.) If you are looking for an intermediary we recommend Whitney Brennan of IPX 1031 Exchange at 1468-(916) 806 or Janet Schaum at Old Republic at (412) 389-5606.
