1031 Resource.com: Terms For 1031 Exchange & Accommodators Help

1031 Resource.com

Home

Welcome to 1031 Resource.com

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 Accommodators professional. Need Help with 1031 issues ? Then contact us now >

SEARCH:

Exchange Help Pages

Law Center

§ 1031. Exchange of property held for productive use or investment...Read more law >

Related Hot Topics

Ad Valorem Taxes
Accommodators
Real Property
Investing
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.

1031 Related News

Illini Bank Partners With NES to Offer 1031 Tax-Deferred Exchange Products
Illini Bank can now offer out a suite of pioneering 1031 tax-deferred exchange products to their customers that will help them defer capital gains taxes

Exeter Expands 1031 Exchange Operations To East Coast
Exeter 1031 Exchange Services, LLC announced that it has expanded its national 1031 exchange branch office network to include the East Coast

Read More News >

Terms about 1031

Negative Amortization

Definition:
A situation in which a borrower is paying less interest than what is actually being charged for a mortgage loan. The unpaid interest is added to the loan's principal. The borrower may end up owing more than the original amount of the mortgage.

Recapture

Definition:
That portion of the gain from the sale of real estate that is taxed at ordinary income tax rates. Calculated as the difference between the accelerated depreciation taken and the straight-line depreciation that would have been allowed.

Tax Lien

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.

See More Terms >

Terms & Glossary about 1031

Non-Conforming Loan

Definition:
A loan that does not conform to Federal National Mortgage Association (FNMA) or Federal Home Loan Mortgage Corporation (FHLMC) guidelines. Jumbo loans are nonconforming.

Property Tax

Definition:
The amount which the state and/or locality assesses as a tax on a piece of property.

Ad Valorem Tax

Definition:
A tax levied in proportion to the value of the thing(s) being taxed. Exclusive of exemptions, use-value assessment laws, and the like, the property tax is an ad valorem tax

Negative Amortization

Definition:
A situation in which a borrower is paying less interest than what is actually being charged for a mortgage loan. The unpaid interest is added to the loan's principal. The borrower may end up owing more than the original amount of the mortgage.

Tax Savings

Definition:
The deduction a taxpayer can take on their tax form for interest paid on a home mortgage. The amount of money that the homeowner is not required to pay the government in taxes because he or she owns a home.

Curtailments

Definition:
The borrower's privilege to make payments on a loan's principal before they are due. Paying off a mortgage before it is due may incur a penalty if so specified in the mortgage's prepayment clause.

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.

Need to get more information about Accommodators & 1031 issues? Then click here to contact us.