1031 Exchange Transactions in Terra Bella

Section 1031 can let a holder of investment or business real estate sell, roll the proceeds into like-kind property and possibly push the tax on the gain into the future. The rules leave no slack. Closing on the relinquished property starts the count: day 45 is the last day to identify replacements in writing, day 180 the last day to own one. Blow either and the exchange may collapse. Real Estate Agent Terra Bella covers the property side. Pricing, marketing and selling what you are giving up. Hunting, vetting and negotiating what you are getting. One calendar for both escrows. The qualified intermediary holds the money. Eligibility and the tax consequences are your tax advisor's call. Tax advice is not part of our role. What is: a replacement search that begins before the first escrow closes when that helps, a straight answer on whether a target can realistically close in time, and replacement offers that stay disciplined on price even with the clock running. Groves, rental houses and commercial buildings may all qualify, depending on how they are held.