Friday, August 13, 2004

The 1031 Exchange: An Intriguing Perspective and Examples 

The 1031 Exchange: An Intriguing Perspective and Examples

A wide variety of properties can be considered “like-kind”. We DO have a latitude and an intriguing perspective from which to make choices under the 1031 Exchange plan. Think of it this way: “like-kind” does NOT refer to the nature, character or type of property. Instead, it is all about 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 IRC Section 1031. Also, real properties generally are of a “like kind”, regardless of whether the properties are improved or unimproved.
Here are a few examples.

1031 Exchange Examples...ASK janeAnne@janeAnne.com
about current listings and possibly exchanging

* A Professional office in Manhattan for a Mountain cabin and land that you will lease

* A Condo in California for Unimproved Land with a Waterfall in the Asheville area

* A Single family rental in Chicago for multi family rental in West Asheville

* Non income providing raw land in Florida for income producing rental property in the beautiful Appalachians of Western North Carolina

* An apartment building in downtown Detroit for an office building in "up-and-coming" Mars Hill, North Carolina

* Our B&Bs ready for you to buy.

* Horse Farms and Equine properties.

FYI: The Section 1031 Code was amended in 1989 rendering property outside the United States NON “like-kind”.

Remember: Investors do NOT have to exchange for exactly the same type of property.

ASK janeAnne about 1031 Exchanges janeAnne@janeAnne.com

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