Video Transcript
Today, we’re going to talk about 1031 Exchanges in the state of South Carolina. If you’re a non resident selling investment property in South Carolina, there’s a withholding you need to be aware of and you need to plan for it at closing. Your settlement agent is going to withhold funds unless you fill out a form stating you get an exemption and 1031 is a valid exemption.
So you need to work in advance with your settlement agent if you’re a non resident selling investment property in South Carolina to make sure that the I95 form is filled out and submitted at closing so they will not withhold funds from you at closing.
Please feel free to give me a call and we can view it together to ensure you have a successful 1031 Exchange. Thank you.
Understanding the South Carolina 1031 Exchange Process
If you have any questions about this or any other 1031 Exchange topics, please visit our South Carolina IPX 1031 web page at www.ipx1031.com/southcarolina. We’re happy to help.
Click to visit South Carolina 1031 Exchange page