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1031 Exchange Closer Handbook

1031 Exchange Closer Handbook-2025

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The document is a comprehensive handbook on the process of closing IRC Section 1031 tax-deferred exchanges, provided by Asset Preservation, Inc. It outlines the purpose of the handbook, key exchange requirements, and detailed steps for both selling relinquished properties and purchasing replacement properties. The handbook also includes frequently asked questions, various exchange scenarios, sample settlement statements, and a checklist for exchangers to follow. It emphasizes the importance of consulting legal and tax advisors throughout the exchange process.

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Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is the loophole for 1031 exchange?

Section 1031 allows investors in business properties to defer taxes on the profits of properties that are sold when they are sold to raise cash to purchase other properties. It is sometimes called the Starker Loophole because the sale and purchase do not need to be simultaneous to qualify for the tax deferral.

What are the closing requirements for 1031 exchange?

The main requirements for a 1031 exchange are: (1) must purchase another like-kind investment property; (2) replacement property must be of equal or greater value; (3) must invest all of the proceeds from the sale (cannot receive any boot); (4) must be the same title holder and taxpayer; (5) must identify new

What is the 2 year rule for 1031 exchange?

The related party must hold the relinquished property acquired from the taxpayer for a minimum of two (2) years, and the taxpayer must hold the replacement property acquired as part of the 1031 Exchange for a minimum of two (2) years in order to qualify for tax-deferred treatment.

How to close a 1031 exchange?

Handling the closing of a 1031 tax deferred exchange is almost as easy as closing a typical sale transaction! The main difference, though, is the documentation provided by 1031 Exchange Place. These documents are paramount to a successful 1031 exchange and must be executed prior to the relinquished property closing.

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