Like kind exchanges of real property pursuant to Section 1031 of the Internal Revenue Code can be a valuable tool to defer or avoid capital gains tax on real estate transactions. Section 1031 allows a business and/or investment property owner to sell one property and purchase another and defer the capital gains/income taxes on the transaction.
However, for the taxes to be deferred, the exchange must be properly structured and the requirements of Section 1031 strictly met. Rogers Towers routinely advises and provides assistance to business and/or investment property owners wishing to complete a 1031 exchange.
< Return to practice area