by William Horan | May 2, 2012 | Process
The “Drop and Swap” term “Drop and Swap” is a term used to describe the process of dropping out of a partnership or membership interest of a limited liability company (LLC) into an ownership interest in investment real estate and then exchange or swap for new...
by William Horan | Aug 1, 2011 | Process, Reinvestment Requirements
The answer is a simple YES! Because of the economy and cash flow concerns, some investment property owners are thinking of selling their property at a loss and not doing a 1031 exchange. It is important that as owners and investors we know the tax consequences of such...
by William Horan | May 10, 2011 | Process, Reporting
1031 ACCIDENTAL MISTAKE For years Qualified Intermediaries (QIs), like ourselves, have been concerned that an accidental mistake could derail a good 1031 exchange. Like a settlement agent sending the proceeds from a settlement directly to the seller, when the...
by William Horan | Aug 26, 2010 | Regulations, Reporting
1031 Exchange Addendum – Do you need one? There is no question that an assignment of the contract rights to the Qualified Intermediary (QI) must occur in the exchange process in the overwhelming majority of cases. It is clear in the IRS Regulation...
by William Horan | Aug 8, 2010 | Criteria, Qualified Intermediary, Regulations
For close to two decades our firm, Realty Exchange Corporation, has been involved with IRS Internal Revenue Code Section 1031 and like-kind exchanges on a daily basis. During this time we have been involved with educating folks on how to do a like-kind exchange in...
