Because legislation and regulations hold us to a very specific standards, Landowner Exchange asks that our clients follow a six-step process. By following these steps, we can help you complete your desired exchange!
1. Contact Us
Due to the strict IRS guidelines that must be adhered to, contact Landowner Exchange right away if you’re considering a 1031 Exchange. We will help ensure you’re connected to the appropriate resources for proper document preparation and coordination of all parties, including your tax accountant, title company and a professional qualified intermediary. Click here to get started.
2. Plan the Exchange
Discuss the specifics of your exchange with your tax accountant. We can be of assistance with this conversation at your discretion.
3. Your Contract
At the direction of the title company and the qualified intermediary, make sure that the real estate contracts have the 1031 terminology in the contract that allows for the assignment & indicates your intent to do an exchange.
4. Property Sale
Work with Qualified Intermediary (QI) to receive proceeds from sale of original property.
5. Replacement Property
Replacement property (or properties) must be identified within 45 days of the closing of the original property.
6. Property Acquisition
Acquisition of new property (or properties) must be completed within 180 days of the closing of the original property.
Born and raised to understand the needs of landowners, our founders have studied strategies to help you protect what you have and what you’re looking to grow. Our mission is to give America’s land and business owners the greatest chance to succeed, and we believe that our services do just that by optimizing the sale and trade of your most previous assets. Whether you’re looking to trim your tax bill, transition ownership of your property or share in the betterment of your community, Landowner Exchange is here to help.