Metro Title & Escrow
We understand that some tax deferred exchanges of real estate can and do take place. These are perfectly legal, but they have to be performed correctly. At Metro Title & Escrow, we can offer you everything you need to meet the legal requirements if your real estate transaction qualifies as a tax deferred exchange. You can expect to get the right documentation and assistance, so you can complete your transaction properly. With a tax deferred exchange, you will sell one property and buy another without paying taxes. But this must be addressed correctly or it may not meet appropriate guidelines.
Section 1031 of the IRS Code addresses these exchanges. While they are often called "tax free," that is not really the case. The tax on the sale is deferred due to putting the money back into another real estate purchase. Not all purchases qualify for this status, which is why it is so very important to consider all the different implications of any real estate transaction before making that transaction. With our agents helping you, you can be sure all the proper paperwork will be handled for your tax deferred exchange.
