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...
by William Horan | May 29, 2010 | State Law, Tax Impact, VA QI Law
Virginia has passed House Bill 417 the Exchange Facilitators Act and it has been signed by Governor McDonnel. The bill become effective July 1, 2010. Link to the VA Bill: Exchange Facilitators Act §1031 of the Internal Revenue Code permits a taxpayer to exchange...
by William Horan | May 17, 2010 | Reinvestment Requirements
Many of our clients strategize to exchange investment rental property into another new investment rental property, in a great location like the Outer Banks, which they will eventually convert into a primary residence. This powerful tax strategy takes planning but...
by William Horan | Aug 8, 2008 | Exchange Defined, Tax Impact
By: Ed Horan, Certified Exchange Specialist® Are you in a situation where you must go to settlement on your investment replacement property but you cannot sell your relinquished property or the buyer is not ready to go to settlement? Due to the current market we are...
