What is a 1031 Exchange?
An exchange provides an alternative to the usual buying and selling of commercial real estate. The 1031 exchange (IRS Section 1031) allows the holders of a business or investment property to exchange one property for another that is “like kind” and similar in value, and delay paying capital gains/taxes that would normally incur, so long as the rules are followed.
Why should you care?
This is a powerful investment strategy and estate planning tool which can save you a lot of money in taxes if you have the knowledge to use it correctly and effectively.
How we can help.
With strict rules and timelines to adhere by, having a partner to provide you with a wide variety of investment options, and ensure all guidelines are met and executed on time is highly advantageous. Our team at Fortis has the expertise and experience to help you avoid any problems and effectively execute your 1031 exchange.