Finding the Most Suitable 1031 Exchange Property For Yourself
If you are someone who is planning to undertake a 1031 exchange process, or in the midst of a process exchange, you will most likely find that the 45-day identification period passes so quickly. To provide you assistance to understand which specific properties are likely to get 1031 exchange reinvestment, the Internal Revenue Service (IRS) has presented some key specific guidelines by which you can consider the properties. The most important thing that you need to do here is acknowledge the fact that your primary residence cannot be used for the exchange reinvestment. Properties that are entitled for this reinvestment must be like-kind. This basically means that the property can be used for productive use in a business, trade or some kind of investment. There are a few essential details that one needs to keep in mind when starting with the process of identifying a 1031 exchange property and must also look for a credible 1031 exchange company in Utah . Look for a qualified intermediary