A 1031 exchange is a real estate investment vehicle allowing one property to be exchanged for another while deferring payment of capital gains tax. Both NJ and the IRS have specific procedures and reporting requirements that must be followed for successful completion of 1031 exchanges. Danny May, CTP, and his team of professionals work with investors and intermediaries to see that 1031 exchanges are conducted in accordance with ALTA and CFPB best practices and are compliant with applicable state and IRS regulations.
Rules 1031 exchanges have specific rules that govern this type of investment property swap. Failure to follow these rules and comply with established timelines can negate the exchange and leave investors open to IRS & NJ taxes and penalties. 1031 exchange rules include the following:
NJ real estate investors who want to take the risk and uncertainty out of complicated transactions like 1031 exchanges turn to Black River Title for real estate closing and settlement services. Title searches, document preparation, escrow accounts, and tax reporting are handled smoothly, on a reliable timeline, and with full transparency for all involved parties. Call the Black River Title team at 908-979-8982 to request a NJ title search or schedule a real estate closing.