Buy custom 1031 exchanges
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| Topic: |
Business
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| Number of pages / Number of words: |
6 / 1411 |
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Within 45 days of closing on the relinquished property, a 1031 trader must file a list of possible replacement properties with an intermediary — a firm certified to act as the closing agent for 1031 exchanges. The second deadline occurs 180 days after the initial transaction. At that time, the exchanger must close on a replacement property, using equity equal to or more than the equity in the original property...
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At that time, the exchanger must close on a replacement property, using equity equal to or more than the equity in the original property. Miss either deadline, and the IRS will send a capital gains tax bill.
In light of the deadlines and other issues that can complicate exchanges, a cottage industry of 1031 exchange advisors has emerged over the years...
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General points of the essay
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