Continuity of Title

Continuity of title is an important component of a 1031 exchange.  Remember: 1031 exchanges are about deferring taxes. The same taxpayer(s) that sells a property must be the same taxpayer(s) that owns new replacement property(ies).  We strongly recommend you check who...

Receiving 1031 Escrow Funds in Following Year

The IRS 1031 regulation (§1.1031(k)-1(j)) provides that if an exchanger receives 1031 escrow funds from the qualified intermediary at the end of the exchange, or if the exchanger had a bona fide intent to do an exchange but does not complete the exchange by receiving...

1031 Classification of Second Homes

By: Ed Horan, Certified Exchange Specialist® To qualify for a like-kind exchange, IRC Section 1031 requires that the property be “held for productive use in a trade or business or for investment.”  The property will qualify when it is being held for use in a trade or...