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1031 Exchange Information

By
Real Estate Agent with Kathleen Barnato, Your Santa Barbara & Montecito Connection

Here is some 1031 Exchange information that I found helpful for my clients; a 1031 Tax Deferred Exchange is a bonus to investment buyers and sellers. 

 

Remember, a 1031 exchange gives you 180 days (OR UNTIL YOUR NEXT TAX RETURN IS FILED WHICHVER IS FIRST!) -to complete your exchange from the start date.

The exchange starts on the day you sell and close on your "Relinquished Property".

So, for example if you start your exchange on November 20 and file your taxes in April 15th of the following year YOU WILL NOT HAVE A FULL 180 unless you file an extension on your taxes.

In Santa Barbara, I often use  Amherst Exchange and First American Exchange as my two often used companies. 

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