- 1031 Exchanges
- Tenants-In-Common
- Exchange Details & Requirements
- Real Estate Professional
Dual Registration Program - Tax Professionals, Legal Advisors & Northland Securities1031
- About Us
- The Tax Deferred Exchange
- How to Initiate an Exchange
- 1031 Exchange Requirements
- Do's & Don'ts of 1031 Exchange Planning
- Can Your Tax Professional or Legal Advisor Be Your Qualified Intermediary?
- Exchange Terminology
- Like-Kind Property
- 1031 Qualified Property
- Delayed Exchange Deadlines
- Tenant-In-Common Interests
- Master Lease-Tenants-In-Common
- Non-Tax Reasons to Exchange
- Role & Selection of a Qualified Intermediary
- Role of a Tax Professional or
Legal Advisors - Disqualified Parties
- Tenants-in-Common Research &
Due Diligence Reports - Exchange Language
Do's & Don'ts of 1031 Exchange Planning
Do - Contact your tax professional, legal advisor, Qualified Intermediary (Q.I.) and Northland Securities1031.
Don't - Miss exchange deadlines. Failure to identify exchange properties and notify the Q.I. during the 45 day identification period or failure to acquire replacement property within the 180 day exchange period will disqualify the entire exchange.
Do - Use all proceeds from sale of relinquished property. Make sure debt on replacement property is greater than or equal to debt on relinquished property. Be sure to receive only “Like-Kind” property in the exchange. (Note: Increased debt may be offset with cash; however a reduction in equity may not be offset by increasing debt.)
Don't - Change title during an exchange. A change in legal ownership of exchange property may disqualify the exchange.
Do - Sell relinquished property before you buy replacement property. If you find an ideal replacement property before relinquished property is sold, contact your Q.I. and legal advisor for reverse exchange information.