WHAT IS A 1031
Section 1031 of the Internal Revenue Code provides that no gain or loss shall be recognized on the exchange of property held for productive use in a trade or business, or for investment. A tax deferred exchange is a method by which a property owner trades one or more relinquished properties for one or more replacement properties of like-kind, while deferring the payment of federal income taxes and some state taxes on the transaction.
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Thank you David. We are extremely excited for this opportunity to own a beautiful property. The process with you and your staff has been wonderful. There was not one questioned ignored, you guys answered them all whether it be email or text. You and your staffs professionalism speaks volumes and doesn't go unnoticed. Thank you again......
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Will Guarino