1031 Requirments    

1031 Exchange Requirements

In order to incur all the benefits of a tenant in common exchange, each exchange must satisfy all of the requirements.

  • First, 100% of the monies earned on the sale of the relinquished income real estate must be reinvested into the second income real estate.

  • Second, the debt on the like kind replacement income real estate must be equal to or greater than the debt held on the relinquished income real estate.

  • Third, each real estate investor must use a Qualified Intermediary (QI) to oversee the transaction. A QI is a qualified individual that prepares the paperwork, holds all proceeds from the transaction, and provides any technical advise on the exchange process.

  • Finally, all 1031 exchanges require the exchange of like kind income real estate for other like kind property. A definition of such may be found in internal revenue code.

    For more information on 1031 exchanges or tenant in common exchanges, or to be put in contact with a licensed 1031 advisor, contact us today!

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    Tenant in common (TIC) properties have become popular 1031 exchange solutions for investors seeking to defer capital gains taxes and free themselves from property management. A wide range of TIC properties exist for sale and 1031exchangerules.net can provide you with access to the best TIC investment opportunities nationwide.

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    Thursday, July 29, 2010