A 1031 Provides Time To Decide
George Christofely
1031 EXCHANGE SPECIALISTS, INC., Founder & President. A National 1031 Qualified Intermediary. Call: 877-513-1031
Received a call from an individual who transferred ownership of their property in September, not thinking they would buy another property, they did not set-up a 1031 EXCHANGE. They now wish to buy another property and want to know if they can still utilize the 1031 tax savings. Answer is ABSOLUTELY NOT! When there is the slightest chance of a subsequent purchase, an exchange fee of less than $1,000 is worth the tax savings and gives the client time to search and decide if a purchase is right for them.