Real Estate

An important part of our real estate transactional practice involves like-kind exchanges under Internal Revenue Code Section 1031, which allows taxpayers to defer capital gains that would have to be paid at the time of sale of the property, as long as the proceeds are reinvested in similar, or “like-kind,” property. 

To avoid facing unexpected and substantial tax liabilities, it’s critical to ensure that you meet all of the requirements of a 1031 exchange. Our attorneys have extensive experience in structuring and implementing like-kind exchanges and reverse exchanges. In these transactions, we assist clients in selling a property and parking the sale proceeds with a third-party intermediary. We then assist with the subsequent identification of and timely closing on qualifying replacement property.