Section 1031 of the IRS code lets you buy and sell "like-kind" property without having to pay taxes at the time of the sale, maybe never, so long as certain rules are met. This is because the new property is seen as a continuation of the original.
Long mistaken as a tool for corporations or professional investors, the 1031 Exchange is actually a strategy that can be implemented by most anyone with the help of an approved accomodator.
The steps to an exchange are as follows:
RealEstateSuperMarkets.com has partnered with a qualified accomodator of 1031 Exchange services. Please contact us at [email protected] or use the contact form to the right for a no-cost, no-obligation consultation.