At the simplest level, “1031” refers to the section of the tax code that allows real estate investors to defer capital gains taxes when they sell an investment property, if they re-invest the funds in a like-kind property within a certain time frame. Colloquially, investors are “exchanging” one property for another – hence the name “1031 exchange.”
There are many complex rules regarding 1031 exchanges, including finding a qualified intermediary to hold the funds and closing on the new property within approximately 6 months.
With over 65 years of practicing real estate along the Gulf Coast, our team has the experience and connections necessary to ensure your 1031 exchange goes smoothly. We can help you identify properties that align with your investment goals and meet the IRS regulations for 1031 exchanges. We’ll assist with facilitating the necessary steps for a smooth and timely closing.
Contact us today for more information about using White-Spunner Realty in your 1031 exchange!