San Francisco 1031 Property Exchange Lawyers
California Internal Revenue Code Section 1031 Attorneys
A 1031 property exchange allows individuals the opportunity to buy and sell property while deferring capital gain tax consequences. After a 1031 property exchange has been successfully completed, an investor can reinvest 100 percent of the equity from the original property towards the purchase of a preferred replacement property — without paying taxes on capital gains. The IRS hates this.
There is no regulation of the asset-less corporations set up to hold your money while you find and acquire your target replacement property. Their contracts and paperwork are designed to protect them, not you. Let us make your exchange safe and worry free.
At Sack Rosendin, LLP, we assist investors in completing 1031 property exchanges. The IRS has made the process quite complex, discouraging many from taking advantage of all that this transaction offers. The tax savings are worth the trouble and complexity. It is important that your attorney fully understands section 1031 of the IRS code and applicable case law. To find out more, contact our law office in Oakland, California, today.
Representing Investors in 1031 Property Exchanges
We have been helping clients with 1031 property exchanges for decades, and we can help you with the following:
- 1031 real estate exchanges
- 1031 exchanges for other types of property
- Reverse exchanges
- Other real estate law matters
1031 Exchanges for Art Work
Most people associate a 1031 exchange with real estate property, but there are other types of property that can be successfully exchanged. Our firm has worked with clients to implement a 1031 exchange for works of art. One of the challenges of using a 1031 exchange for art work is determining "like-kind." Can a painting be exchanged for a sculpture and still be a "like-kind" exchange under 1031? Contact our firm for more information about tax-deferred exchanges for art work.
To find out more about the exchange of real estate property or another type of property to defer tax consequences, contact a San Francisco Bay Area lawyer.
Sack Rosendin, LLP