Special offer

Waterfall 1031- Asheville Style

By
Real Estate Broker/Owner with REAL ESTATE REFERRAL NETWORK 209970

Asheville Real Estate-  Land Journal  

Not long ago, a 1031 Like-Kind Exchange client traded her beachfront resort condo with its cumbersome property management responsibilities, for the relative freedom of a land purchase. This was a sixty-plus (60+) acre tract. It was endowed with amazing and very obvious natural features. She fAsheville area waterfall on acreageound it attractive not just for the beauty, but for the freedom.

Here she can hike, camp or simply sit quietly observing the star-studded night sky. She is free to go, unencumbered by HOA dues and property management expectations, with a simple picnic basket to enjoy the  waterfall. (see photo)

To watch over the Beauty for generations to come, this client could create a private land trust with protective covenants which might provide additional tax advantages.

Of course, her acreage must qualify as an "outstanding natural area," having natural character. It must either provide habitat for rare or endangered species of plants or animals, or have scenic or other features of scientific or educational value. 

 

But what about her plan to build in the future?Should she choose to build in the future, she would  customize the conservation restriction she imposed at the time of purchase, to allow for limited construction under strict guidelines that protect the property's natural assets.

 

This post is part of a series on 1031 Like Kind Exchanges- "Invest in What is Important to YOU"

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(*)/'(*)   ________The Asheville NC Real Estate Journal . Mountain Homes and Land Legacies- Asheville NC Real Estate  © 2011. NAR GREEN®, EcoBroker®, Eco Certified ®Real Estate Consultant. INFORMED CHOICES. THOUGHTFUL ADVICE. Email me to request a copy of EPA's Sustainable Design and Green Building Toolkit- janeAnne@janeAnne.com

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Comments (2)

Lee & Pamela St. Peter
Berkshire Hathaway HomeServices YSU Realty: (919) 645-2522 - Raleigh, NC
Making Connections to Success in Real Estate

janeAnne, what a great trade this is.  The acreage is gorgeous!  I've not had an opportunity to assist in a 1031 but it sounds so intriguing. Will she be able to build at all on this property? 
Pamela

Aug 01, 2011 07:25 AM
ASHEVILLE REALTY REFERRAL RESOURCE 828-776-0779
REAL ESTATE REFERRAL NETWORK - Asheville, NC
CONTACT janeAnne365@gmail.com

It is a wonderful opportunity. Thanks for your comment.

Aug 01, 2011 09:49 AM