What Is 1031? also referred to as a 1031 Exchange or Like-Kind Exchange, and falls under Section 1031 of the Internal Revenue Code. This tax section deals with property value in sale of business or trades and other like sales. Contact us to get your property exchange prepared & filed by a qualified
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ยง 1031. Exchange of property held for productive use or investment...Read more law >
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Starker Exchanges
One property is not always exchanged for just one other property.
Two or more types of real estate can be exchanged for one replacement type of real estate. Also, one type of real estate can be exchanged for two or more types of real estate.
Definition:
(1) A lien for nonpayment of property taxes. Attaches only to the property upon which the taxes are unpaid. (2) A federal income tax lien. May attach to all property of the person owing the taxes.
Indirect Costs
Definition:
Development costs other than direct material or direct labor costs including administrative and office expenses, financing costs and property taxes.
Assessor
Definition:
A government official who is responsible for determining the value of a property for the purpose of taxation.
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Did You Know ?
One property is not always exchanged for just one other property.
Two or more types of real estate can be exchanged for one replacement type of real estate. Also, one type of real estate can be exchanged for two or more types of real estate.