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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"Worked with them to purchase a cabin they had listed. Being an almost 5 hour drive, I was pleased to arrive and see the cabin not only met, but exceeded my expectations from the listing. My offer was promptly accepted and the closing process was smooth. Look forward to enjoying this property for years to come, and David has proven to be a valuable contact for someone new to the area, even after closing. From a buyers perspective, as a real estate professional, I have no complaints about Vandewater & Associates."

Gordon Ingals