1031 Requirments    

1031 Exchange Requirements

1031 Exchange Requirement

All 1031 exchanges, including tenant in common exchanges, must adhere to the following requirements:

  • The total money reinvested into the like kind rental real estate must equal or be greater than the value of the relinquished rental real estate. In other words, 100% of the assets from the sale of the first rental real estate must be rolled into the second investment.

  • The amount of equity ( rental real estate value minus loan amt. ) of the acquired rental real estate must be equal to or greater than that of the rental real estate being sold.

  • Each exchange, including tenant 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 rental real estate or rental real estate for another like kind replacement rental real estate or rental real estate. As such, all rental real estate involved in the exchange must be qualified like kind rental real estate in order to incur the benefits involved with any 1031 tenant 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 reittic.com can provide you with access to the best TIC investment opportunities nationwide.

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    Friday, July 30, 2010