For Investors: Guide to 1031Exchange
By Jorge Martinez, Espanol Spanish Bi-Lingual Agent
(North Orange County ReMax Realtor)
As long as you meet, the following you could qualified for 1031 deferred exchange. 1. -Both your "old" property and your "new" property have to be investment property. Rental property or bare land are examples of investment property. If you meet this test, you can sell any type of property (apartment building) and buy any other type of property (say an office building). 2.-From the day of closing escrow on the sale of your old property, you have 45 days to come up with a list of properties you would like to buy. This is called your 45-day list and I recommend that this list contain two or three potential properties. 3.-Also, from the date of closing, you have 180 days to close the purchase of whatever you are buying. What you buy must be included on your 45-day list. 4.-You can...
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