CassieNet News :: Thinking of getting a mortgage

Thinking of getting a mortgage :: RE: 1031-exchange

Author: caron
Subject: RE:
Posted: Fri Jul 29, 2005 8:19 am (GMT 0)
Topic Replies: 1

Hi Guest
Welcome to the forums.

A 1031 exchange is the sale of real estate or personal property and acquisition of similar property in which the owner of the sold property has no liability towards federal, and in most cases state, capital gain and depreciation recapture taxes. This rule is in accordance with section 1031 of the Internal Revenue Service.

Wish to hear from you soon.

Regards,
Caron.

For the full story see:
http://www.mortgagefit.com/discuss/about706.html
This item has been viewed 131 times.