Section 1031 of the IRS tax code allows investors to sell investment property and use all of the proceeds to purchase new investment property while deferring taxes associated with the sale. To qualify as an exchange, the relinquished and replacement properties must be qualified “like-kind” properties and the transaction must be properly structured as an exchange. “Like-kind” relinquished property and replacement properties must be real property that has been and will be held for productive use in the investor’s trade or business or for investment.
There are many advantages to structuring your transaction as a 1031 Exchange.
With over 70 years of combined experience, the Cooper Advantage Group has the experience, skills, and connections to make sure that we can handle all of your real estate needs.Contact Us