1031 Requirments    

1031 Exchange Requirements

In order to incur all the benefits of a tenants in common exchange, each exchange must satisfy all of the requirements.

  • First, 100% of the monies earned on the sale of the relinquished income real estate must be reinvested into the second income real estate.

  • Second, the debt on the like kind replacement income real estate must be equal to or greater than the debt held on the relinquished income real estate.

  • Each exchange, including tenants in common exchanges, requires the use of a Qualified Intermediary to hold all proceeds of the transaction, prepare any paperwork, and answer any technical questions involved with the exchange.

  • Finally, a 1031 exchange is defined as the exchange of any like kind income real estate or income real estate for another like kind replacement income real estate or income real estate. As such, all income real estate involved in the exchange must be qualified like kind income real estate in order to incur the benefits involved with any 1031 tenants in common exchange.

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    Tenant in common (TIC) properties have become popular 1031 exchange solutions for investors seeking to defer capital gains taxes and free themselves from property management. A wide range of TIC properties exist for sale and tenantcommonproperties.com can provide you with access to the best TIC investment opportunities nationwide.

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    Tuesday, January 06, 2009