1031 Exchange Explained Nov 21, 2009
Knowing the rules and requirements of a 1031 exchange can save a person thousands of dollars when it comes to selling and buying property. If a person truly wants to reap the rewards of a 1031 exchange it is necessary for him to completely understand the rules and requirements for the tax deferred exchange ... What is a 1031 Exchange. (Suite101.com)
U.S. Trustee Objects to Third-Party Releases in LandAmerica's Reorganization Plan Nov 17, 2009
LandAmerica filed for protection in November 2008 after its Section 1031 exchange business collapsed due to its auction-rate securities investments ... Lawyers at Akin Gump Strauss Hauer & Feld and Richmond's Tavenner & Beran represent the Official Committee of Unsecured Creditors of LandAmerica 1031 Exchange Services Inc., one of the company's subsidiaries ... The creditors are individuals or small businesses that deposited money with a LandAmerica subsidiary while attempting to qualify for... (Law.com)
Boulder buys recycling site Sep 21, 2009
1650 W. 121 Ave., Westminster 80234 This day-care center building was sold for $900,000 cash to an undisclosed California 1031 exchange buyer, according to brokers in the deal. The seller was 1650 W. 121st LLC of Denver, which bought the building in 2008 for $835,000, according to Adams County property records. (Denver Business Journal, CO)
Boulder Co. lot sells for $3.1M Sep 5, 2009
Perfect property for the 1031 Exchange or for a patient investor, the listing said. Platte River Equity III is associated with Eastlake development firm , according to public records. (Denver Business Journal, CO)
Macerich sheds Rancho Cordova building Sep 3, 2009
There were four buyers for the five properties, including a 1031 Exchange buyer, pension fund, private equity and family trust. Cole Real Estate also purchased the Monrovia building. (Sacramento Business Journal, CA)
Don't pay off entire mortgage with extra cash (1) Aug 30, 2009
My situation is this: I sold one investment condo and bought another one under the 1031 exchange, and later sold the house I lived in and made the 1031-exchanged condo my home. Do I have to pay the delayed taxes on the 1031 exchange when I sell this condo property ... Now, if the home was acquired in connection with a 1031 exchange, and you ultimately opt to treat it as your principal residence, you can take advantage of this exclusion only after you have owned it for a full five years. (Lodi News Sentinel, CA)
TowneBank Announces Quarterly Cash Dividend Aug 27, 2009
Towne also offers a full range of financial services through its controlled divisions and subsidiaries that include Towne Investment Group, Towne Insurance Agency, TFA Benefits, TowneBank Mortgage, TowneBank Commercial Mortgage, Prudential Towne Realty, Towne 1031 Exchange, LLC, Corolla Classic Vacations and Corolla Real Estate. Through its strategic partnership with William E. Wood and Associates, the bank also offers mortgage services in all of their offices in Hampton Roads and Northeastern... (Primezone Releases)
Master Planning and Density Based Zoning Key to Successful PDR Programs (2) Aug 16, 2009
Some farmers use the program to expand the land base of their operation by using a 1031 exchange. Carroll County takes this one step further through their Critical Farms Program. (Agri-View, WI)
Denver apartments sell for $8.4M Aug 8, 2009
The buyer a private investment entity called George Teague Van Buren LLC of Fort Collins, according to public record acquired the high-rise property through a 1031 exchange. The 119-unit apartment property s sale price amounted to $70,966 per unit. (Denver Business Journal, CO)
County grants subdivision request (1) Aug 3, 2009
However, Ruiz said, his client wanted to complete the sale of the 2,575-acre tract before the end of the year, in part because of tax implications involving what is known as a 1031 exchange. These property exchanges, named for the applicable section of the Internal Revenue code, are a way of structuring property sales to defer taxable gains. (Boerne Star, TX)
Cranberry office park draws $90M Aug 1, 2009
On the buyer s side, McKnight, which also owns the Grant Building, Downtown, recently sold a portfolio of 16 Wendy s restaurants it formerly owned and operated for an undisclosed price back to the fast food restaurant s corporate parent and was seeking a 1031 exchange, a tax mechanism in which a real estate investor can defer taxes by placing their asset profits into another property investment. Despite a recessionary market, the dynamic between buyer and seller, as well as the strong Cranberry... (Pittsburgh Business Times, PA)
Investor Report: Bankruptcy Filings Jul 24, 2009
In a letter to Senator Chris Dodd of Connecticut, chairman of the Senate Banking Committee, the IRS said it is aware of the financial pain, and potentially severe tax liabilities, faced by Section 1031 exchange investors around the country. Among the most prominent recent bankruptcy filings that have interfered with thousands of exchanges: Land America 1031 Exchange Services, Inc., a subsidiary of title insurance giant Land America; and Summit Accommodators. (RealtyTimes)
CoStar Group Announces New Analytic Features for Analyzing Trends in Commercial Property Sales and Leasing Data Jul 18, 2009
The newly available COMPS Analytic Search focuses on the specialized analysis associated with investment property sales, providing several options the subscriber can apply to target specific property types or conditions, including "Office," "Retail," "Industrial," "Multi-family," "Hospitality," "Shopping Center," "Land," and special sale conditions such as "Portfolio Sale," "1031 Exchange," "Auction," among many others. The new tool can then be used to produce a wide range of trend analysis on... (Primezone Releases)
Fraud imperils future of feeding program Jul 1, 2009
4 million into a privately operated 1031 Exchange, which holds profits and defers taxes while the seller finds another property to buy. Okun bought the 1031 Exchange in 2007 and Ward s money disappeared. (Atlanta Journal-Constitution)
Congress Limits Gain Exclusion on the Sale of Some Primary Residences Jul 1, 2009
This is so even if a portion of the gain was rolled over into the property in a 1031 exchange transaction ... Since 1994 he has educated realtors, investors, CPAs and attorneys throughout the United States and Mexico on the intricacies of 1031 Exchanges ... Gary is the owner and managing partner of the national firm, 1031 Exchange Experts, LLC, which headquarters is located in Denver, Colorado, and offices in Arizona, Connecticut, Florida, Hawaii, and Texas. (RealtyTimes)
Why lenders demand title insurance Jun 30, 2009
If you own investment property, in order to defer (not avoid) capital gains tax there is a legal procedure known as a 1031 exchange (commonly called a Starker exchange) ... In your situation, if it is possible to sell all of your investment properties and purchase the bed-and-breakfast within 180 days from the date of the first sale, you can accomplish a successful 1031 exchange. (San Francisco Chronicle -- Business)
Real deals: Office unit sells for $1.93M Jun 27, 2009
Park West Condominiums, 1563 Williams St., Denver 80203 The 1031 Exchange Experts, as intermediary for Lesia Anders, purchased this condo property for $1. 07 million, according to Pinnacle Real Estate Advisors LLC of Denver. (Denver Business Journal, CO)
The 1031 Exchange in Today's Market Jun 18, 2009
Real Estate News and Advice. Note: To follow is an excerpt of an interview with Michael A. Anderson, CES, Certified Exchange Specialist. (RealtyTimes)
Multifamily: An Untapped Niche for REALTORS and Investors May 14, 2009
We use 1031 exchanges as an education tool, too. Most real estate agents do not know what a 1031 exchange is, never mind how to execute one with an intermediary and going through the entire process. (RealtyTimes)
Healthcare Real Estate Investing: Healthy, Stable, or DOA? Apr 30, 2009
Realty Times - Healthcare Real Estate Investing: Healthy, Stable, or DOA. Real Estate News and Advice. (RealtyTimes)
Seminar slated on business of horses Mar 24, 2009
Participants will learn about contracts, depreciation schedules, section 179 deductions, security clauses, 1099 forms, 1031 exchange of horses, the Oregon equine activity statute, insurance and accounting records, and how to develop a business plan and market a business. The instructor is M. R. Bain, who is experienced in the horse industry as an owner, trainer, breeder, manager, consultant and lecturer. (Albany Democrat-Herald, OR)
Now, Is A Good Time to Transact Mar 23, 2009
Arzaga: The 1031 exchange is one. There is alos a strategy called at 1031 721 where in some cases investors can actually liquidate in partials and units pieces of their holdings. (RealtyTimes)
REALTORS Can Earn Referrals on Real Estate TIC Deals; Waiting on SEC for Securities Mar 18, 2009
As they present properties for a 1031 exchange, many of the buyers are moving out of smaller apartment complexes where they ve been unable to higher professional management because of the size of the property. It doesn t justify it. (RealtyTimes)
TIC'ed off: DBSI fallout impacts Albuquerque office market Mar 13, 2009
TICed off: DBSI fallout impacts ABQ office market - New Mexico Business Weekly. for free extra services. (New Mexico Business Weekly, NM)
What Happens When You Sell An Exchange Property At A Loss? Mar 5, 2009
What does happen if you sell a property, that you bought in a 1031 exchange, at a loss. Let's say, for example, that you have a buyer with cash in hand offering you $175,000 for a rental property you paid $200,000 for as part of a 1031 exchange you did three years ago ... The answer is that when you do a 1031 exchange your basis from the Old Property rolls over to the New. (RealtyTimes)
Investor Report: Mixed 1031 Signals Feb 27, 2009
The recent bankruptcy filing of one of the country's largest exchange intermediaries, Land America 1031 Exchange Services of Richmond, Virginia, froze nearly $420 million in funds held by the company on behalf of 450 investor clients ... All good questions and advice for anyone contemplating a 1031 exchange in troubled times. (RealtyTimes)
Helter Shelter Feb 8, 2009
The 440 investors had parked the proceeds from their real-estate sales with LandAmerica 1031 Exchange Services Inc. in hopes of delaying capital gains taxes - only to find their entire investment nest egg missing. Some skewered by the bankruptcy are calling LandAmerica's operation a Ponzi scheme that misappropriated the deposits and then paid off older customers with the cash of newcomers. (New York Post -- Business)
Marcus & Millichap brokers 12-year lease for new Wal-Mart concept store Feb 8, 2009
6 million in a 1031 exchange. Wal-Mart signed a 12-year lease. (Phoenix Business Journal, AZ)
