If yes, then the Buyer will not be eligible for a 1031 Exchange.Is the property intended for investment purposes?
If yes, then either the Seller or Buyer could be wanting to do an Exchange. WHY SHOULD A REAL ESTATE BROKER OR AGENT UNDERSTAND EXCHANGING? In today’s real estate climate, it is imperative that Real Estate Brokers and Agents understand the options a 1031 Exchange can offer their clients. Without such knowledge brokers and their agents are open to potential liabilities, due to lack of knowledge. Unfortunately, you can be as liable for what you don’t say, as well as for what you do say. Simply offering the option of a Tax-deferred Exchange can eliminate potential liability on the Broker’s part. The Exchange Agent can have more satisfied clients by offering them the option to save substantial tax dollars, through exchanging. The Exchange Agent can also increase their income with the additional knowledge of exchanging. WHAT IS 1031 LIKE KIND PROPERTY? The IRS Code Section 1031 states that property held for use in productive trade or business or property held for investment , is potentially
Related Questions
- If yes, then the Buyer will not be eligible for a 1031 Exchange.Is the property intended for investment purposes?
- Can bare land/lots be financed with the purpose of developing the property or using it for investment purposes?
- Why should I choose Bulgaria to buy property for investment purposes or as a holiday home?
