1031 Exchanges in Real Estate
A 1031 property exchange with Northern Virginia Title & Escrow is an exchange of like-kind investment properties between two parties. This type of exchange allows each owner to defer capital gains and other property related taxes to a future date. Note that a qualified property is strictly for investment, not for your personal use. The new property must also be for investment use.
Like-kind property exchanges mean that you must exchange one investment property for something similar. For example, you can exchange a Fairfax, Virginia single-family home for an Arlington, Virginia Condo. Or, you can exchange a rental house for raw land in the Washington, D.C. area.
1031 property exchanges can happen in several different ways. Contact the experienced team at Northern Virginia Title & Escrow for more information.
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