Does Arizona recognize 1031 exchange?

Since 1031 Exchange is a section of the federal tax code, it is applicable to all fifty United States. So if you are a customer that's interested in selling a piece of real estate in Arizona and exchanging elsewhere, you are perfectly fine doing that through a 1031 Exchange.

US Legal Forms
Agreements - Agreement Forms
Exchange Agreement for Real Estate

1031 Exchange Agreement Form For India In Phoenix

Category:

Real Estate - Taxes

State:

Multi-State

City:

Phoenix

Control #:

US-00333

Format:

Instant download

Description

This form states that the owner of certain property desires to exchange the property for other real property of like kind and to qualify the exchange as a nonrecognition transaction. The agreement also discusses assignment of contract rights to transfer relinquished property, resolution of dispute, indemnification, and liability of exchangor.

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FAQ

You can perform a 1031 exchange with foreign properties, so long as your relinquished and replacement properties are both located outside the United States.

A Qualified Intermediary, or QI, is an independent third party to the transaction whose function is to prepare the documents necessary to create the exchange, as well as to act as the independent escrow agent for the exchange funds.

Here are examples of properties ineligible for a 1031 exchange: Primary residences: A 1031 exchange is specifically intended for investment or business properties. Personal properties are not eligible. Vacation homes: Vacation homes generally do not qualify if used for personal reasons.

While foreign property is not of a like kind with domestic property, foreign properties are considered like-kind with one another. You can perform a 1031 exchange with foreign properties, so long as your relinquished and replacement properties are both located outside the United States.

Since 1031 Exchange is a section of the federal tax code, it is applicable to all fifty United States. So if you are a customer that's interested in selling a piece of real estate in Arizona and exchanging elsewhere, you are perfectly fine doing that through a 1031 Exchange.

You can perform a 1031 exchange with foreign properties, so long as your relinquished and replacement properties are both located outside the United States.

It allows taxpayers to defer paying income taxes on the sale of property if the proceeds are reinvested in a similar kind of property.

More info

The 1031 Exchange Rule. We specialize in handling all types of 1031 Exchanges, ranging from simple transactions to complex scenarios.Only properties that are used for business or as an investment can qualify for 1031 exchange. Private residences are not qualified. Start your 1031 Reverse Exchange here. Please provide us with as much information as possible. The transaction is closed as Phase II of a delayed exchange. Give us a call, send us an email or fill out the form below and see how hard we can work for you!

1031 Exchange Agreement Form For India In Phoenix

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