EP 19 - Stayin’ Alive in Your 45

The rules for identifying and acquiring qualified use and like-kind replacement properties in a 1031 Exchange transaction are complex and confusing. Your 1031 Exchange 45 calendar days identification deadline can be exceptionally challenging, especially in fast-paced real estate markets. Today we discuss qualified use and like-kind replacement property requirements, including the type of real estate assets (asset classes) that can be identified and acquired as part of your 1031 Exchange strategy. You will be surprised at some of the real properties that are considered like-kind and qualify for tax-deferred exchange treatment under Section 1031 of the Internal Revenue Code. Discussion includes critical issues such as demonstrating intent to hold for rental, investment or business use, definition of qualified use and like-kind replacement property, strategies for listing and selling your relinquished property and making offers and acquiring replacement properties in a challenging and fast-paced real estate market, active vs. passive ownership of real property, and the various real property classes that qualify for 1031 Tax Deferred Exchange treatment.

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