1031 Like Kind Exchange Transactions
Working closely with our Commercial Tax Department, we can construct the transaction to achieve your goals.
Due to our deep experience in this field, we can safely guide you from concept to completion and extend to you the benefits of our experience in the planning and operation of a successful commercial condominium project. Our attorneys have over twenty (20) years experience in the field and have handled many such projects.
If you have a property that is difficult to sell, conversion to a condominium form of ownership may be a feasible alternative. Feel confident in discussing your project with our attorneys, knowing that they have “been there and done that.”
Often a person selling commercial real estate will seek to defer paying taxes on the gain by using the sale proceeds to purchase another like kind commercial property. This is called a “like kind exchange” and is made pursuant to Section 1031 of the Internal Revenue Code.
Our attorneys are experienced at performing these kinds of transactions and are expert at facilitating the process.