1031 Requirments    

1031 Exchange Requirements

1031 Exchange Requirement

There are four distinct requirements applicable to all 1031 exchanges :

  • In order to qualify as a 1031 exchange, 100% of the monies earned through the sale of any rental property must be reinvested in the replacement rental property.

  • Also, the amount of equity held in any like kind rental property for reinvestment must be greater than or equal to that of the relinquished rental property.

  • Third, each property owner must use a Qualified Intermediary (QI) to oversee the transaction. A QI is a qualified individual that prepares the paperwork, holds all proceeds from the transaction, and provides any technical advise on the exchange process.

  • Finally, all 1031 exchanges require the exchange of like kind rental property for other like kind property. A definition of such may be found in IRS 1031 tax code.

    For more information on 1031 exchanges or tenant in common 1031 exchanges, or to be put in contact with a licensed 1031 realtor, contact us today!

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    Tenant in common (TIC) properties have become popular 1031 exchange solutions for investors seeking to defer capital gains taxes and free themselves from property management. A wide range of TIC properties exist for sale and triple-net-lease-definition.com can provide you with access to the best TIC investment opportunities nationwide.

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    Thursday, July 29, 2010