INVESTMENT PROPERTIES & THE
1031 EXCHANGE
ASHEVILLE AREA REAL ESTATE- WISE INVESTMENTS FOR TODAY AND TOMORROW
Over the years investing in Asheville area real estate including investing via the 1031 Exchange (1031 Like Kind Exchange) has worked for my real estate clients. Investments might include an Asheville Area 1031 Exchange such as an equestrian property by pastoral Mars Hill, North Carolina for an apartment complex or duplex located in Asheville.
Asheville area acreage (an organic farm, equestrian land,) may be exchanged for residential property. There is a requirement however. This residential property may NOT lived in by
you, the investor in order to meet Section 1031 regulations. Note:
seek the counsel of your attorney and CPA while locating replacement properties.
Asheville area real estate investment might include a Deferred Exchange. This occurs when the property received in the exchange is not received at the same time as the transfer of the property given up. For a deferred exchange to qualify as Like Kind, Asheville real estate investors must comply with the 45-day written notice and receipt requirements. Note:
it is wise to seek the expertise of a Qualified Intermediary - the person or entity that under the regulations enters into a written exchange agreement to help facilitate an exchange.
ASHEVILLE REAL ESTATE AND THE HUNT FOR THE REPLACEMENT PROPERTY
The hills and mountains here in the Asheville area are full of special treasures. Once we locate the investment that works for you, your replacement property, having identified up to three (3) properties where the total fair market value does not exceed 200% of the fair market value of what you are relinquishing, the hunt can be productive. A general rule you may choose to consider is that the replacement property should be equal or greater in value, debt, and equity, and if your replacement property is less than you may well have a tax liability on the difference.
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CONTACT janeAnne, a professional REALTORŪ with a great
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Environments, Properties for Baby Boomers, Horse Lovers, and Small Family Farmers, Large Acreages and Farms, and Golf & Recreational Homes.
janeAnne@janeAnne.com
828-776-0773
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