A Fresh Take on CRE

Follow Up on 1031 Exchanges

A few weeks ago I posted Part 1 of a Series on "Why TICs are good" which explained what a 1031 exchange is. As a follow up to that discussion, I recently came across this very interesting article which offers some tips on the nuances of a 1031 exchange. I won't repeat the article here, but a couple interesting things to know are:

1) Foreign properties are not considered "like-kind" for the purpose of a 1031, regardless of what they are, and

2) "Personal property may be exchanged under [section]1031. However, to qualify it must not only be exchanged for other personal property but must be exchanged for personal property of the same "like class" property or within the same product class as set forth in the NAICS manual.

Happy Reading!

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