What is a tax-deferred exchange?
A tax-deferred exchange is an exchange conducted in accordance with the provision of Section 1031 of the Internal Revenue Code. Section 1031 allows the sale or exchange (trade) of business property to be sold or traded for a profit without immediate tax liability provided that certain requirements are met.

What kinds of property qualify for 1031 treatment?
The most common qualifying property is business property such as rental property whether residential or commercial real estate held for investment. Property, other than inventory, which is used or held in a trade or business, such as buildings, machinery, and equipment may also qualify.

Can I get tax-deferred treatment on the sale of my business property without simultaneously trading for another property?
Yes. IR Code 1031 has provisions which allow you to get the beneficial tax treatment provided you identify and purchase qualified replacement property within certain time limitations. Western Property will assist you in order to meet these requirements. This is commonly referred to as a Delayed Exchange.

My property will take some time to sell, but I want to exchange it for a property which is available now and might not be available after my property sells. Can you help?
Yes. Western Property has expertise in conducting exchanges where you first acquire the property which will replace your existing one, which is sold at some time thereafter, subject to certain limitations. This called a Reverse Exchange.