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1.
Always
discuss a §1031 tax deferred exchange with your tax and/or legal
advisors.
2.
Call API for a free consultation at any time and definitely before
closing on the relinquished property. The following information is
needed to begin preparing the exchange documents:
A) The
name, address and telephone number of the Exchanger; and
B) The closer/escrow holder's name, address, telephone number and file
number. We will prepare all necessary exchange documentation and will
coordinate with the closer/escrow holder, the Exchanger's real estate
agent/broker and his or her tax and/or legal advisors.
3.
Include verbiage establishing the intent to affect a §1031 tax deferred
exchange in the Purchase and Sale Agreement. The following are examples:
SALE
OF RELINQUISHED PROPERTY
"Buyer
is aware that Seller intends to perform an IRC §1031 tax deferred
exchange. Seller requests Buyer's cooperation in such an exchange and
agrees to hold Buyer harmless from any and all claims, liabilities,
costs, or delays in time resulting from such an exchange. Buyer agrees
to an assignment of this contract to Asset Preservation, Inc. by the
Seller."
PURCHASE
OF REPLACEMENT PROPERTY
"Seller is aware that Buyer intends to
perform an IRC §1031 tax deferred exchange. Buyer requests Seller's
cooperation in such an exchange, and agrees to hold Seller harmless
from any and all claims, liabilities, costs, or delays in time
resulting from such an exchange. Seller agrees to an assignment of
this contract to Asset Preservation, Inc. by the Buyer."
IRN Realty does not provide tax or legal advice. Investors should
always seek the advice of their tax and/or legal advisors regarding
their specific situation.
For information about any aspect of real estate
or any problem you may have with your property...
The best way I've found to get the ball rolling is a simple conversation.
To obtain an accurate assessment of any data you're
receiving online,
property analysis, market conditions or to discuss
problem properties . . .
Why not call me today
?
TOM ANDROS
Direct:
909 985-4898
| 800 403-1139
Or use my online contact form by clicking the
"Contact Form" link,
at the top and bottom of every page. |
