Rules & Timelines – IPX1031

What Is a 1031 Exchange in Texas

IPX1031 offers a comprehensive guide to navigating 1031 Exchanges in Texas, providing valuable insights into tax-deferral benefits, regulations, and effective strategies for real estate investment.

1031 Exchange Rules in Texas

Investors can defer capital gains taxes on Texas real estate investment sales through IRC Section 1031. 1031 Exchanges are federally recognized, and Texas adheres to federal rules, regulations, and timelines, enabling investors to defer capital gains on qualified property exchanges.

Texas offers diverse investment opportunities for tax deferral, including properties like short-term rental vacation properties, retail spaces, mixed-use developments, and more. If you’re exploring a Texas 1031 Exchange, consult with the experts at IPX1031 for guidance and support.

What is a 1031 Exchange

1031 Exchanges in Texas enable investors to divest from investment property, reinvesting proceeds into new investment properties, and deferring capital gain and other taxes, provided adherence to all rules and regulations.

To mitigate capital gain taxes in a Texas exchange, investors are advised to: 1) acquire property of equal or greater value, 2) reinvest all equity in the Replacement Property, and 3) secure equal or greater debt on the Replacement Property.

Types of Properties that Qualify for a 1031 Exchange in Texas

To qualify for a 1031 Exchange, Relinquished and Replacement Properties must be qualified as “like-kind,” and the transaction must be structured properly. “Like-kind” properties must be real property held for productive use in the investor’s trade or business or for investment.

Popular like-kind property options in Texas include hotels, storage facilities, rental vacation properties, 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 Texas

Executing a 1031 Exchange in Texas, like anywhere else, demands meticulous planning, expertise, and support. Here’s a checklist outlining key steps in your exchange:

  1. 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
  2. Consult with your tax professionals
  3. Include Cooperation Clause language in your purchase and sale agreement
  4. IPX1031, your QI, prepares your exchange documents
  5. Start searching for Replacement Property
  6. Sign all documents IPX1031, your QI, prepares
  7. Sell your Relinquished Property
  8. Identify your Replacement Property
  9. Enter into contract on Replacement Property
  10. Contact IPX1031, your QI, once Replacement Property escrow is opened
  11. Close on Replacement Property
  12. IPX1031, your QI, transfers funds to complete your purchase
  13. Your exchange is complete

Ready to Get Started on Your 1031 Exchange In Texas

Ready to Get Started on Your 1031 Reverse Exchange in Texas?

1031 Exchange Texas Timeline

For your 1031 Exchange in Texas, here’s what you need to know about 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 Texas

IPX1031 stands as your reliable Texas Qualified Intermediary, dedicated to Texas clients while extending Qualified Intermediary services across the nation. Your selection of a Qualified Intermediary is pivotal for the success of your exchange, emphasizing elements such as the security of exchange funds and the proficiency of personnel.

IPX1031 provides financial safeguards, ensuring secure fund transfers and maintaining a sterling reputation, thereby facilitating a streamlined exchange process. It’s important to note that disqualified individuals from serving as Qualified Intermediaries include those who have acted as your employee, attorney, accountant, investment banker or broker, or real estate agent or broker within the two-year period before the transfer date of the Relinquished Property.

Furthermore, Qualified Intermediaries are unable to dispense tax or legal advice, hence the necessity to seek personalized guidance from your legal and tax advisors. IPX1031 collaborates closely with your advisory team to guarantee seamless exchanges.

Attorneys

Tax Advisors

Realtors

Financial Planners

Commercial Brokers

CPAs

Title/Escrow/Settlement Agents

Lenders

IPX1031 Exchange Offices in Texas.

PH: (972) 371-5371   TF (888) 337-1031
FAX:  (972) 371-5375   TFF (888) 337-1853

400 Dominion Plaza West, 17304 Preston Road, Dallas, TX 75252
1900 W Loop S, Suite 100, Houston, TX 77027
13215 Bee Cave Pkwy Bldg B, Ste. 100, Austin, TX 78738
2915 W. Bitters Road, Suite 301, San Antonio, TX 78248

Learn more about each of our Texas Exchange experts below:

Craig Brown, Esq.

Craig Brown, Esq.

Regional Manager

As Central Regional Manager, Craig has overseen the facilitation of more than 23,000 1031 Exchanges with total values in excess of $30 billion.

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Theresa Quartaro

Theresa Quartaro

Greater Houston, South and East Texas, Louisiana

Theresa brings over 30 years of experience in the real estate industry with a focus on 1031 Exchanges, banking, multifamily lending and escrow closing.

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Patrick Noonan

Patrick Noonan

Greater Dallas / Ft. Worth, North Texas, Oklahoma

Patrick’s professional experience includes VP Business Development positions with the most recognized names in the residential and commercial real estate industry.

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Carl Pikus

Carl Pikus

Metro Waco, Austin, San Antonio, West Texas, Panhandle & Rio Grande Valley

Carl’s extensive background in real estate financial planning enables him to strategically offer customized comprehensive 1031 solutions and to better educate his clients on all of the advantages of 1031 Exchanges.

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Let's Talk About Your Specific Texas 1031 Needs

Customized solutions for your 1031 investment and business goals.

Is there an IPX1031 office in Texas near me?

IPX1031, the national leader in 1031 Exchange QI services, is pleased to offer service in all cities, counties, and areas throughout Texas, including:

Houston

San Antonio

Dallas

Austin

Fort Worth

El Paso

Arlington

Corpus Christi

Plano

Laredo

Lubbock

Garland

Irving

Amarillo

Grand Prairie

Brownsville

McKinney

Frisco

Pasadena

Mesquite

Killeen

McAllen

Midland

Denton

Waco

Carrollton

Round Rock

Abilene

Pearland

Richardson

Odessa

Sugar Land

Beaumont

The Woodlands

College Station

Lewisville

League City

Tyler

Wichita Falls

Allen

Edinburg

San Angelo

Conroe

Bryan

Mission

New Braunfels

Longview

Pharr

Flower Mound

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