Real Estate Transactions
Under Section 1031 of the United States Internal Revenue Code (26 U.S.C. § 1031), the exchange of certain types of property may defer the recognition of capital gains or losses due upon sale, and hence defer any capital gains taxes otherwise due.
For those holding properties that may qualify and who want to buy/sell an investment, it is important that you follow the IRS' rules concerning these transactions. It is extremely important that a proper chain of custody occur, as well ast that 1031 and non-1031 monies are not commingled.
The Law Offices of T. Nicholas Tyszka, L.L.C. can work with qualified intermediaries and assist you with 1031 exchange transactions. Among the intermediaies with whom we have done transactions:
• Investment Property Exchange Services, Inc.
For more information on how we can help you with your real
estate-related matter, please call us at: (312) 488-1250.