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1031 Exchange Requirements

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1031 Exchange Requirement

All 1031 exchanges, including tenants in common exchanges, must adhere to the following requirements:

  • The total money reinvested into the like kind investment property must equal or be greater than the value of the relinquished investment property. In other words, 100% of the assets from the sale of the first investment property must be rolled into the second investment.

  • The amount of equity ( investment property value minus loan amt. ) of the acquired investment property must be equal to or greater than that of the investment property being sold.

  • Third, each property owner must use a Qualified Intermediary (QI) to oversee the transaction. A QI is a qualified individual that prepares the paperwork, holds all proceeds from the transaction, and provides any technical advise on the exchange process.

  • Finally, all 1031 exchanges require the exchange of like kind investment property for other like kind property. A definition of such may be found in IRC section 1031.

    For more information on 1031 exchanges or tenants in common exchanges, or to be put in contact with a licensed TIC advisor, contact us today!

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