Sentences with phrase «kind exchange transaction»

Like - Kind Exchange: The sale or disposition of real estate or personal property (relinquished property) and the acquisition of like - kind real estate or personal property (replacement property) structured as a tax - deferred, like - kind exchange transaction pursuant to Section 1031 of the Internal Revenue Code and Section 1.1031 of the Treasury Regulations in order to defer Federal, and in most cases state, capital gain and depreciation recapture taxes.

The Ninth Circuit Court of Appeals eventually agreed with Starker that its delayed tax - deferred, like - kind exchange transaction did in fact constitute a valid exchange pursuant to Section 1031 of the Internal Revenue Code.

Qualified Intermediary: An unrelated third party (i.e. Exeter 1031 Exchange Services, LLC) that administers the tax - deferred, like - kind exchange transaction in order to facilitate the disposition of an investor's relinquished property and the acquisition of an investor's like - kind replacement property.

Taxpayer: The person or entity that is completing the tax - deferred, like - kind exchange transaction, commonly referred to as investor, exchangor or taxpayer.

Being in constructive receipt of exchange funds or property may result in the disallowance of the tax - deferred, like - kind exchange transaction thereby creating a taxable sale.

Real Property Exchange: The sale or disposition of real estate (relinquished property) and the acquisition of like - kind real estate (replacement property) structured as a tax - deferred, like - kind exchange transaction pursuant to Section 1031 of the Internal Revenue Code and Section 1.1031 of the Treasury Regulations in order to defer Federal, and in most cases state, capital gain and depreciation recapture taxes.

For tax - deferred like - kind exchange purposes, an agent includes any employee, attorney, accountant or investment banker or real estate agent or broker that has had an agency relationship with the investor within the two - year period prior to and the two - year period subsequent to the investor's tax - deferred like - kind exchange transaction.

A Qualified Intermediary (Accommodator or Facilitator) can not be an investor's agent at the time of or during the tax - deferred, like - kind exchange transaction.

Exchangor: An investor who is completing the tax - deferred, like - kind exchange transaction.

2) We prepare all of the legal documents necessary to structure your 1031 exchange transaction, including the Tax - Deferred Exchange Agreement, the Assignment, Acceptance, Notice and Direction to Convey and any other transactional documents necessary to complete your tax - deferred like - kind exchange transaction.

Exchange: The sale or disposition of real estate or personal property (relinquished property) and the acquisition of like - kind real estate or personal property (replacement property) structured as a tax - deferred, like - kind exchange transaction pursuant to Section 1031 of the Internal Revenue Code and Section 1.1031 of the Treasury Regulations in order to defer Federal, and in most cases state, capital gain and depreciation recapture taxes.

The Internal Revenue Service issued a revenue procedure on July 20, 2004 regarding the use of DST's for the purchase of fractional interests in real property that would qualify as like - kind replacement property in conjunction with a tax - deferred like - kind exchange transaction.

Accommodator: An unrelated third party (i.e. Exeter 1031 Exchange Services, LLC) that administers the tax - deferred, like - kind exchange transaction in order to facilitate the disposition of an investor's relinquished property and the acquisition of an investor's like - kind replacement property.

Replacement Property: The like - kind property to be acquired or received by an investor in the tax - deferred, like - kind exchange transaction.

Investor: The person or entity that is completing the tax - deferred, like - kind exchange transaction, commonly referred to as investor, exchangor, or taxpayer.

Exchange Agreement: A written agreement between the Qualified Intermediary and Investor setting forth the Investor's intent to exchange relinquished property for replacement property, as well as the terms, conditions and responsibilities of each party pursuant to the tax - deferred, like - kind exchange transaction.

Receipt of the tax - deferred like - kind exchange funds by an investor during the investor's exchange period will disqualify the entire tax - deferred like - kind exchange transaction.

Cooperation Clause: Language to be included in the purchase and sale contracts for both relinquished and replacement property that indicates and discloses that the transaction is part of an intended tax - deferred, like - kind exchange transaction and requires that all parties cooperate in completing said exchange.

Intermediary: An unrelated third party (i.e. Exeter 1031 Exchange Services, LLC) that administers the tax - deferred, like - kind exchange transaction in order to facilitate the disposition of the Investor's relinquished property and the acquisition of the Investor's like - kind replacement property.

Concurrent Exchange: A tax - deferred, like - kind exchange transaction whereby the disposition of the relinquished property and the acquisition of the replacement property close or transfer at the same time.

Relinquished Property: The property to be sold or disposed of by the Investor in the tax - deferred, like - kind exchange transaction.

Exchange Accommodation Titleholder («EAT»): An unrelated party (i.e. Exeter Reverse 1031 Exchange Services, LLC) that holds the qualified indicia of ownership (customarily the title) of either the replacement or relinquished property in order to facilitate a reverse and / or build - to - suit tax - deferred, like - kind exchange transaction pursuant to Revenue Procedure 2000 - 37.

The exchange period is 180 calendar days from the transfer of the investor's first relinquished property, or the due date (including extensions) of the investor's income tax return for the year in which the tax - deferred, like - kind exchange transaction took place, whichever is earlier, and is not extended due to holidays or weekends.

If a Section 1031 like - kind exchange transaction is not completed, the escrowed funds will be returned to Griffin.

In the case of a failed or partial tax - deferred like - kind exchange transaction, an Investor may be able to defer his capital gain income tax liability into the following income tax year rather than the income tax year in which the relinquished property closed.

If multiple like - kind replacement properties are involved in the same tax - deferred like - kind exchange transaction and not all of the replacement properties are acquired it results in a partial 1031 exchange.

A larger percentage of commercial members (76 percent) reported engaging in a like - kind exchange transaction compared to residential members (45 percent).

It will depend on whether the Tax - Deferred Exchange Agreement used by the Qualified Intermediary for the Investor's tax - deferred like - kind exchange transaction includes the required language contained in Section 1.1031 of the Department of the Treasury Regulations prohibiting access to the 1031 exchange funds until the following income tax year.

The Investor will sell the relinquished property to the Exchange Accommodation Titleholder in order to complete the simultaneous tax - deferred like - kind Exchange transaction.

Exeter 1031 Exchange Services, LLC will do everything we can to assist you with your tax - deferred like - kind exchange transaction, but we can not provide you with legal, income tax, and / or financial advice or guidance.

The proposed rules and regulations specifically clarified the 45 calendar day identification period and the 180 calendar day exchange period rules, provided guidance on how to deal with actual and constructive receipt issues in the form of safe harbor provisions, reaffirmed that partnership interests do not qualify as like - kind property in a tax - deferred like - kind exchange transaction, and further clarified the related party rules.

Relinquished properties and like - kind replacement properties that are part of a single like - kind exchange transaction must qualify as like - kind property to each other in order to qualify for tax - deferred like - kind exchange treatment under Section 1031 of the Internal Revenue Code («like - kind exchange»).

Once the extensions of time have been filed, Investors must complete their tax - deferred like - kind exchange transaction within the 180 calendar days before they actually file their Federal and, if applicable, state income tax returns.

You should notify your Exeter 1031 Exchange Services, LLC 1031 Exchange Advisor immediately if any of the following circumstances apply to your tax - deferred like - kind exchange transaction:

The act of altering, changing, amending, swapping or back - dating a like - kind replacement property identification form in order to save a tax - deferred like - kind exchange transaction is classifeid as income tax fraud, and Investors should avoid any Qualified Intermediary that engages, permits or suggests any such practice.

The successful completion of a tax - deferred like - kind exchange transaction requires Investors to comply with certain deadlines pursuant to Section 1031 of the Internal Revenue Code, which have been further clarified within Section 1.1031 of the Department of the Treasury Regulations.

Investors will never have more than 180 calendar days to complete their tax - deferred like - kind exchange transaction.

Failure to identify like - kind replacement property (ies) within the 45 calendar day window will result in a failed tax - deferred like - kind exchange transaction, and the subject transaction must be recharacterized as a taxable sale rather than a tax - deferred like - kind exchange.

Investors completing a tax - deferred like - kind exchange transaction must identify their potential like - kind replacement property (ies) to their Qualified Intermediary (Exeter 1031 Exchange Services, LLC) no later than midnight of the 45th calendar day following the close of the relinquished property sale transaction.

Investors do not need to be concerned about part (2) above unless the first relinquished property transaction sold and closed within the tax - deferred like - kind exchange transaction closed on or after October 17th and on or before December 31st of any given tax year, which would mean that the 180th calendar day would fall after April 15.

Investors must complete their tax - deferred like - kind exchange transaction, which includes the receipt of title to all of their like - kind replacement properties, no later than the earlier of:

In an Exchange First parking structure the relinquished property is acquired, held or parked by the Exchange Accommodation Titleholder and a simultaneous or concurrent tax - deferred like - kind Exchange transaction is completed by selling (transferring or conveying) the relinquished property to the Exchange Accommodation Titleholder and simultaneously acquiring and closing on the like - kind replacement property.

Unfortunately, there is still a lot of confusing, misleading and inaccurate educational material and technical information circulating throughout the Internet today regarding the types of properties or assets that will qualify as like - kind exchange replacement properties in order to complete a successful like - kind exchange transaction, especially when there is personal property involved in the like - kind exchange.

In fact, the study found 63 percent of REALTORS ® participated in a like - kind exchange transaction between 2011 and 2014.

In this presentation, Dr. David Ling reviews the mechanics of like - kind exchanges and discuss the economic impact of like - kind exchange transactions on tax revenues, real estate sales activity and prices, investment activity and job creation, and debt financing.

The sophisticated Investor will always have a good team of experienced professional advisors, including legal, tax, and financial advisors, along with a knowledgeable broker and professional, experienced, institutional Qualified Intermediary, also referred to in the real estate industry as the 1031 Exchange Accommodator or 1031 Exchange Facilitator, and an Exchange Accommodation Titleholder, with significant technical experience in tax - deferred like - kind Exchange transactions such as Exeter Reverse 1031 Exchange Services, LLC.

We're pleased to provide the following forms, notices and documents for use with tax - deferred like - kind exchange transactions as a courtesy to our clients and their professional advisors.

These tax court decisions were significant in numerous ways and set the precedent for our present day non-simultaneous, delayed tax - deferred like - kind exchange transactions.

The Starker family's tax - deferred like - kind exchange transactions were structured so that Crown Zellerback would compensate the Starker family with a «growth factor.»

Fees for Reverse Exchange transactions are higher than fees for forward, delayed tax - deferred like - kind Exchange transactions primarily due to the significantly increased risk that is assumed by the Exchange Accommodation Titleholder (EAT) when acquiring, holding and «parking» legal title to the Investor's relinquished or replacement property.