- VESTING AND FINANCE ISSUES RELATED TO TAX-DEFERRED EXCHANGES UNDER IRC
- PROPERTY EXCHANGES DEFER TAXES
- WHY A TAX DEFERRED EXCHANGE IS GOOD FOR THE CLIENT AND THE REAL ESTATE BROKER
- IRS FAVORS NEW §1031 TAX-DEFERRAL AVENUE: Recent Rulings Provide Guidance for Improvement Exchange
- BOILERPLATE CONTRACT LANGUAGE MAY GET YOU IN HOT WATER
- NEW RULES FOR §1031 EXTENSIONS
- PRIMARY RESIDENCES AND §1031 EXCHANGES: New Rules Benefit Taxpayers.
- Qualified Intermediary Due Diligence
- REPORTING PRIMARY RESIDENCE SALES: The IRS has modified requirements when
- A DAY WITH THE YANKEES
New York Law Journal/November 26, 2001 – Although property owners and their advisers are becoming increasingly aware of the benefits of an IRC
New York Law Journal/August 19, 2002 – Sometimes a standard legal document does not contemplate all aspects of a client’s transaction, or more often, does not sufficiently clarify each party’s rights and positions relative to the transaction. Equally important is the ever present need for clear drafting which will avoid future questions concerning the intentions of the parties to the instrument. Although all parties may walk away from a conversation feeling as though they are in agreement, it is the written document evidencing these agreements that will control when a dispute arises . . .
Primary residences are normally not a consideration when talking about IRC §1031 tax deferred exchanges, but some recent rulings have clarified what the results are when these two areas intersect. Revenue Procedure 2005-14 (1/27/2005, corrected February 3, 2005) provides for clarification and additional benefits for those taxpayers converting property between a primary residence use and a business and investment.
While most tax deferred exchanges of real property under