Also called a Starker Exchange Trust, a 1031 exchange is generally used by someone who wants to sell an investment property that they own, yet do not want to pay any taxes. A 1031 will allow the seller of the investment property to defer the taxes as long as they purchase another property which costs … Read more
A like-kind exchange, also referred to as a 1031 or Starker exchange, allows a taxpayer to defer paying tax on the sale of a property. Like-kind exchanges are wonderful and powerful tools to use in tax and wealth strategies, but ONLY when used correctly. If like-kind exchanges are used incorrectly, the result is not just … Read more
In a 1031 exchange property agreement between the exchanger and the intermediary there is a document where the exchanger gives the intermediary the right to acquire the relinquished property from the exchanger and then pass it on it to the buyer. The other documents that are required are 1031 exchange escrow agreement, 1031 exchange amendment … Read more