1031 Exchanges: A Quick Primer
August 30, 2017 | Geoffrey Metz | GlobeSt.com
IRVINE, CA—1031 exchanges continue to attract interest as a method for deferring taxes on a property transaction. But the strategy can be daunting for the first timer. How does a broker approach these transactions in retail and elsewhere? To learn more about this, GlobeSt.com sat down with expert Belden Brown, SVP and national sales manager at Passco Companies.
GlobeSt.com: Passco is known for its expertise in providing 1031 tax differed exchange solutions. Can you explain what brokers need to know about this process and how a 1031 exchange can benefit a seller?
Belden Brown: A 1031 tax deferred exchange allows a seller to defer taxes on the sale of a property, assuming the seller follows the rules established by the IRS. When done correctly this can provide benefits to a seller.
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