Sunday, June 20, 2004
QUALIFYING FOR A 1031 EXCHANGE (1031 Like-Kind Exchange)
If you are interested in "RAW" land in the Greater Ashevillel area dn you are concerned that it will not qualify as "like-kind" under the 1-31 Exchange rules, don't worry! So long as you are NOT going to live on it, property is available for exchange whether it is improved or unimproved.
Now and then an investors will say to me, " I must acquire property just like my
relinquished property." She or he is surprised to learn a wide variety of
properties can be considered “like-kind”.
“Like-kind” does not refer to the nature, character or type of property.
Instead, it addresses the intended use of the property. Provided the
property is initially acquired and held for either business or investment
purposes, it can qualify as a suitable replacement property under Section 1031.
Please feel free to contact me if you would like to know more about LARGE land tracts
possibly able to qualify for Preserves here in the mountains not too far from Asheville.
LandLegacyLady@janeAnne.com
Now and then an investors will say to me, " I must acquire property just like my
relinquished property." She or he is surprised to learn a wide variety of
properties can be considered “like-kind”.
“Like-kind” does not refer to the nature, character or type of property.
Instead, it addresses the intended use of the property. Provided the
property is initially acquired and held for either business or investment
purposes, it can qualify as a suitable replacement property under Section 1031.
Please feel free to contact me if you would like to know more about LARGE land tracts
possibly able to qualify for Preserves here in the mountains not too far from Asheville.
LandLegacyLady@janeAnne.com
