Mark Bullock, Esq.
Regional Attorney Manager, Mountain Region

Mark Bullock, Esq.


Senior Vice President / Regional Attorney Manager

Mountain Regional Office


170 South Main St Suite 1075
Salt Lake City, Utah 84101

Phone: (801) 315-5337
Toll-Free: (877) 775-1031
Fax: (801) 841-3537

Mark Bullock is Regional Attorney Manager of IPX1031 Mountain Region.  Mark is an attorney with 20 years of professional experience, including 16 years in the 1031 Exchange industry. As an expert of 1031 rules and 1031 regulations, Mark has served in multiple management capacities in the 1031 Exchange industry, and also enjoys working directly with clients on their 1031 Exchange transactions. His expertise includes Simultaneous, Delayed, Reverse and Improvement Exchanges. Prior to joining IPX1031, Mark was manager and legal counsel in for a national 1031 intermediary, and also managed the company’s national Reverse Exchange group.

IPX1031 Exchange Seminars

IPX1031 provides seminars for continuing education credits as well as custom and personalized seminars. To find out about a seminar nearest you, or to schedule a seminar for your office, please contact me.

Frequently Asked Questions

How does a 1031 Exchange work?

 

Exchange pitfalls. What should I be aware of?

 

How can I determine if a 1031 is right for me?

My first and best suggestion is to work with your tax advisor to crunch the numbers – look at the amount you’d be paying in capital gains taxes if you were to forego an exchange. If that number isn’t something you’re willing or wanting to pay and you’d rather reinvest it in investment real estate, a 1031 Exchange may be your best path forward. I’ve never had an exchanger come back to tell me they wish they hadn’t done an exchange, but I sure have had plenty come back to say they wish they had!

What are the benefits of doing a Tax Deferred 1031 Exchange?

The gift of a 1031 Exchange is that one is able to defer paying what would otherwise be a hefty amount in capital gains taxes. Being able to reinvest that amount in real estate, thereby increasing one’s portfolio size, cash flow, etc., is meaningful and impactful.

Does Utah, Montana, Idaho, Wyoming or Colorado have state specific 1031 Exchange rules and regulations?

Montana has a claw back provision for 1031 Exchanges meaning the deferred taxes will become payable to the state when the Replacement Property is sold and no further exchange is performed. There are no state specific rules for 1031 Exchanges in Utah, Idaho, Wyoming or Colorado.

Is a Qualified Intermediary (QI) needed?

Yes. To avoid a taxable sale of the Relinquished Property, the use of an intermediary in virtually every 1031 transaction should be utilized. In addition, the Exchanger must enter into written agreements with the QI before the Relinquished Property is sold.

For my Replacement Property, do I have to buy from the properties I’ve identified in my 1031 Exchange?

Yes. During the 45 days you can change what you’ve identified, but once your identification period has expired, you must buy from only that list. There cannot be any substitutions or changes after day 45. The rules under section 1031 are very strict.

Mark Bullock & IPX1031 are a winning combination.

See how we’re different and why.

With coverage through Colorado, Utah, Wyoming, Montana and Idaho and an office near Salt Lake City, IPX1031, the nation’s largest exchange facilitator and accommodator, provides industry leading exchange services including guidance, expertise, security and key information on 1031 Exchange rules, regulations and strategy. IPX1031 Exchange experts offer you customized solutions to defer capital gains tax and maximize equity in your 1031 like kind investment property.

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Full Service Qualified Intermediary

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Superior Customer Service

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Owned by Fidelity National Financial (NYSE: FNF)

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$100M Fidelity Bond & $30M E&O Insurance

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$50M Written Performance Guaranty

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Attorneys & Certified Exchange Specialists (CES®)

Let’s talk about your specific needs

Customized solutions for your investment and business goals.

Why a 1031 is right for me or for my client

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deferring taxes (up to 35 to 40% of the gain)

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greater purchasing power

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improved cash flow

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portfolio diversification

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portfolio consolidation

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greater appreciation potential

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freedom from joint ownership

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estate planning for heirs

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