swap of real estate 1031 exchange

Mr. Hickox,

 

I am a customer of 1031X and may be utilizing your firm again soon on a pending sale.  I also have a question on the property that I did purchase under 1031 in 2005.  I may trade some of this land, with no money being transferred,  Can I roll my 1031 status on this new property to keep my tax deferred status?

 

Thanks.

Dear S:  Yes you can swap real estate of equal value with another exchanger and each of you will be doing a 1031 exchange.  Remember the properties must be of equal value and not just equal equity if you are both going to get complete tax deferral.  You might want to give me more detail of your particular transaction to be sure.  Sincerely

Steve Hickox
Attorney / President

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