Title Services for a 1031 Exchange in Tampa, Plant City, Brandon, Lakeland, New Tampa, Wesley Chapel & Throughout Florida

A 1031 exchange is a way to defer capital gains tax when you sell a business or investment property. The Internal Revenue Service may allow you to postpone paying capital gains tax if you immediately reinvest the proceeds in a similar property. It’s important to remember that this is not a tax-free transaction, merely a deferment, and there are many rules in place to make sure the practice is not abused.

If you are considering a 1031 exchange in Tampa or throughout the state of Florida, let Hillsborough Title be your guide throughout this complicated transaction. While the title professionals from Hillsborough Title handle the real estate side of a 1031 exchange, we work with highly reputable Qualified Intermediaries and Qualified Trustees, and our volume allows us to obtain these services at a fraction of the cost other providers charge.

The many rules stipulated by the IRS for a 1031 exchange include:

• Properties exchanged must be “like-kind,” which means they are used for similar purposes
• Properties do not have to be the same grade or quality
• Personal property or real estate in the U.S. and personal property or real estate outside the country are not considered “like-kind”
• Livestock of different genders is not considered “like-kind” property
• Real properties are considered “like-kind,” whether improved or unimproved
• Stocks, bonds, inventory, stock in trade, securities, debt, partnership interests and certificates of trust are explicitly excluded from eligibility

Contact Hillsborough Title today for information about completing a 1031 exchange in Tampa, Plant City, Brandon, Lakeland, New Tampa, and throughout the state of Florida. Experience the difference of working with your hometown title company.