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 | Jan 1, 2008 | Federal Law, Regulations, Related Parties, Reporting
By Ed Horan, Certified Exchange Specialist® Basic Rule While not specifically stated in IRC 1031 a basic rule when doing a like kind exchange is that there must be continuity of title. This is often called the “same taxpayer rule”. It means that title to the interest...
by William Horan | Jan 1, 2008 | Extensions, Reporting, Vacation Homes
By: Ed Horan, Certified Exchange Specialist® It is a stretch to see the connection between hurricanes and like-kind real estate exchanges. But the IRS has found an important one. In January of last year the IRS published Revenue Procedure 2004-13 which provided...
by William Horan | Jan 1, 2008 | Regulations, Reporting, Vacation Homes
By Ed Horan, Certified Exchange Specialist® Vacation Property Conversions When they talk about conversion in the real estate industry it is usually the process of converting an apartment building into condominiums. In the exchange world a conversion means changing a...
