Virginia, West Virginia & Florida
Claudia is located in IPX1031’s St. Augustine office and she manages the Southern and Southeastern regions.
Claudia Kiernan
read more
Rules & Timelines – IPX1031
What Is a 1031 Exchange in Florida
IPX1031 offers you a comprehensive guide on how to do 1031 Exchanges in Florida, with insights into tax-deferral benefits, rules, and strategies for real estate investment property.
1031 Exchange Rules in Florida
Investors can defer capital gains taxes on Florida real estate investment sales via IRC Section 1031. 1031 Exchanges are part of the Federal Tax Code, and Florida recognizes 1031 Exchanges for real estate transactions. Florida follows all federal 1031 Exchange rules, regulations and timelines allowing investors to defer capital gains on the sale of qualified property if exchanged for like-kind property.
There are many great investment opportunities for tax deferral in Florida. We see many investors using 1031 Exchanges for property such as short term rental vacation properties, retail, mixed use, multifamily and more. If you considering a Florida 1031 Exchange, reach our to our Florida 1031 experts at IPX1031 for any questions or to get started.
What is a 1031 Exchange
1031 Exchanges in Florida allows an investor to sell investment property, reinvest the proceeds in new investment property, and defer capital gain and other taxes associated with the sale, as long as all rules and regulations are followed.
As a general rule of thumb, to avoid paying any capital gain taxes in any Florida exchange, the investor should always attempt to: 1) purchase equal or greater in value 2) reinvest all of the equity in the Replacement Property and 3) obtain equal or greater debt on the Replacement Property.
Types of Properties that Qualify for a 1031 Exchange in Florida
To qualify as a 1031 Exchange, the Relinquished and Replacement Properties must be qualified “like-kind” properties and the transaction must be properly structured as an exchange. “Like-kind” Relinquished Property and Replacement Properties must be real property that has been and will be held for productive use in the investor’s trade or business or for investment. Examples of popular like-kind property in Florida may be hotels, storage facilities, qualifying rental vacation property, nursing homes, strip malls, golf courses, office buildings and parking lots.
Hotels & Hospitality
Multifamily
Agriculture
Industrial
Rental & Vacation Homes
Retail
Mixed Use
Commercial
How to Do a 1031 Exchange of Property in Florida
A 1031 Exchange transaction in Florida, like every 1031 Exchange transaction nationwide, requires planning, expertise and support. Here’s a checklist outlining key steps in your exchange:
- Choose your 1031 Qualified Intermediary (QI) – IPX1031, as your Qualified Intermediary (QI), will prepare the documentation for the 1031 Exchange, and most importantly, safeguard your exchange funds
- Consult with your tax professionals
- Include Cooperation Clause language in your purchase and sale agreement
- IPX1031, your QI, prepares your exchange documents
- Start searching for Replacement Property
- Sign all documents IPX1031, your QI, prepares
- Sell your Relinquished Property
- Identify your Replacement Property
- Enter into contract on Replacement Property
- Contact IPX1031, your QI, once Replacement Property escrow is opened
- Close on Replacement Property
- IPX1031, your QI, transfers funds to complete your purchase
- Your exchange is complete
Ready to Get Started on Your 1031 Exchange In Florida?
Ready to Get Started on Your 1031 Reverse Exchange in Florida?
1031 Exchange Florida Timeline
For your 1031 Exchange in Florida here are the key things you need to know – from the timeline process, deadlines, and other requirements:
- Property must be held for investment
- Buy Replacement Property for equal or greater than sold for, reinvest all proceeds and replace the value of the debt
- Identify Replacement Property within 45 days of close of sale
- Purchase Replacement Property within 180 days of close of sale
- Must sell and buy property that is considered “like-kind” to each other
- Process must be handled by a Qualified Intermediary (QI) like IPX1031
Selecting a Qualified 1031 Exchange Intermediary in Florida
IPX1031 is your expert Florida Qualified Intermediary, serving Florida and additionally offering Qualified Intermediary service in all states nationwide. A Qualified Intermediary will hold your exchange funds, creates the exchange of properties and prepares all exchange documents.
Your Qualified Intermediary is critical to your exchange and your choice of a Qualified Intermediary should not be taken lightly. When choosing a Qualified Intermediary, the two most critical factors for evaluation are safety and security of exchange funds and competency of staff. Financial Assurances for your funds, Safety and Security for the transfer of your funds, Reputation, Expertise and Strength are all critical.
Keep in mind ‘who’ can act as your Qualified Intermediary. Anyone who has acted as your employee, attorney, accountant, investment banker or broker, or real estate agent or broker within the two year period before the date of the transfer of the Relinquished Property is disqualified from being a Qualified Intermediary.
Also, your Qualified Intermediary cannot provide tax or legal advice. Always talk to your legal and tax advisors to determine what is best for your individual situation.
IPX1031 will work with you and can consult with your team of advisors below.
Attorneys
Tax Advisors
Realtors
Financial Planners
Commercial Brokers
CPAs
Title/Escrow/Settlement Agents
Lenders
IPX1031 Exchange Offices in Florida.
PH: (904) 461-9977 TF (877) 494-1031
FAX: (904) 461-0311 TFF: (888) 434-7919
3505 US Highway 1, Suite 2, St. Augustine, FL 32086
13800 NW 14th St, Suite 190, Sunrise, FL 33323
2400 Maitland Center Pkwy, Suite 110 Maitland, FL 32751
2203 N Lois Ave, Suite 450 Tampa, FL 33607
9100 S Dadeland Blvd, Suite 904, Miami, FL 33156
700 South Palafox Street, Ste 205A, Pensacola, FL 32502
Learn more about each of our Florida Exchange experts below:
Sangeeta Banerjee
South Florida
Along with a law degree, Sangeeta brings over 13 years of combined 1031 and title experience, allowing her to provide informative education and comprehensive 1031 solutions.
Luke Hays
Alabama, Tennessee & Mississippi
Luke is located in IPX1031’s Nashville office where he specializes in Real Estate Exchanges.
Let's Talk About Your Specific Florida 1031 Needs
Customized solutions for your 1031 investment and business goals.
Is there an IPX1031 office in Florida near me?
IPX1031, the national leader in 1031 Exchange QI services, is pleased to offer service in all cities, counties, and areas throughout Florida, including:
Jacksonville
Pembroke Pines
Sunrise
North Port
Miami
Hollywood
Deltona
Doral
Tampa
Gainesville
Plantation city
Lauderhill
Orlando
Miramar
Alafaya
Daytona Beach
St. Petersburg
Coral Springs
Palm Coast
Tamarac
Port St. Lucie
Lehigh Acres
Town ‘n’ Country
Poinciana
Hialeah
Palm Bay
Fort Myers
Wesley Chapel
Cape Coral
West Palm Beach
Deerfield Beach
Weston
Tallahassee
Clearwater
Melbourne
Delray Beach
Fort Lauderdale
Spring Hill
Pine Hills
Port Charlotte
Upper Florida
Brandon
Largo
Ocala
Pensacola
Lakeland
Miami Beach
Port Orange
Graceville
Pompano Beach
Boynton Beach
Palm Harbor
Tallahassee
Miami Gardens
Homestead
Wellington
Panama City
Davie
The Villages
Sanford
Panhandle
Riverview
Kissimmee
Jupiter
Leon County
Boca Raton
Kendall
North Miami
Is there an IPX1031 office near me? IPX1031, the national leader in 1031 Exchange QI services, is pleased to offer service in all US states including Alabama, Alaska, Arizona, Arkansas, Northern California, Southern California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming Search for your closest 1031 agent and 1031 office location here.