Any Tax Deferred 1031 Exchange completed pursuant to Section 1031 needs to involve what is known as Like Kind properties. Watch this quick tutorial for the definition of Like-Kind.
Curious about what qualified like-kind property is? Sometimes it’s confusing on what can and cannot be exchanged in a 1031 transaction.
You can exchange real property for virtually any other real property in the United States, s long as the property is held for productive use in a trade or business or for investment purposes.
This includes retail property, residential rental properties, commercial land, raw land, industrial property, mineral air oil and gas rates, a percentage interest in a TIC and also percentage interest in a Delaware Statutory Trust (DST).
If you have any questions or would like to discuss your specific scenario, please contact us or access our knowledge Center on our website for more information.