1031 Exchange (Like Kind Exchanges)
The Law Office of Harold F. Moody, Jr., P.C. handles a large volume of commercial real estate transactions on behalf of several national and regional lenders as well as commercial buyers and sellers utilizing the IRS capital gain deferral procedure known as the Section 1031 “Like Exchange”. This “Like Exchange” process affords individuals and businesses with an important strategy to preserve investment portfolios. Although the qualification requirements are strictly construed and enforced they are manageable when assisted by qualified and knowledgeable counsel and exchange company (qualified intermediary). If your commercial real estate investment will benefit from such a tax deferral technique our office can appropriately manage the transaction to help ensure your ability to gain the benefit of the exchange.
Our office can handle all the necessary purchase and sale paperwork to address the seller/buyer obligations to ensure compliance with the requirements of the Code. Our office also has a close working arrangement with a national exchange (intermediary) company (with a local presence) to effectively accomplish the deferral.
For further information the Internal Revenue Service has an informative brochure on the procedure (identifying and defining the characteristics of property eligible for the exchange) at their website:
When entering into a transaction to utilize the Internal Revenue Code 1031 (Like Kind) Exchange protect yourself by hiring experienced counsel to safeguard your interests throughout the process. Our experience allows us to provide the representation needed to informatively navigate the 1031 procedure smoothly and effectively.