1031 Like-Kind Exchanges
IRS Code Section 1031 Like-Kind Exchange TransactionsAt The Drew Law Firm, attorneys from our
commercial real estate practice assist buyers and sellers in 1031 like-kind tax-deferred exchanges of investment properties under U.S. Internal Revenue Code §1031.
A requirement of IRS Code Section 1031 is that during the conversion of the investment, in order to defer payment of capital gains tax, the funds must be held or qualified by an intermediary. The Drew Law Firm, in order to facilitate these transactions, owns and operates D&W Exchange Company, LLC., which holds funds between the sale of the first property and the purchase of the replacement property.
Qualified like-kind property
Any rental or investment property in the United States is eligible for §1031 and can be traded for any other, including agricultural property, condominiums, retail buildings, and apartment buildings. If a partnership owns real estate, the partnership may enter a §1031 exchange. Vacation homes and residences do not qualify. Our lawyers will help you identify an appropriate property for your 1031 exchange.
Mr. Schaefer and our other
commercial real estate attorneys work closely with members of our
estate planning and
business law practices to provide comprehensive, efficient legal counsel to investors.
If you are an investor and would like to discuss a 1031 like-kind exchange with a lawyer from our firm, we invite you to
contact our
Cincinnati, Ohio, office to arrange an initial consultation.
Our 1031 exchange attorneys: Anthony G. Covatta,
James R. Schaefer,
Eric C. Holzapfel, and
Sybil B. Mullin.
Related practice areas: estate planning,
business law,
commercial real estate, and
construction law
