North Dakota 1031 Exchange – What Are the Requirements for a 1031 Exchange in ND?

Hello. This is TC Fair with IPX1031.

Today, we’re here to talk about how to get the full benefit of a 1031 tax deferred exchange within the state of North Dakota.

The good news is that North Dakota does not have any specific rules or regulations limiting a tax deferred exchange.

So if you are selling any investment property in the state of North Dakota, you can actually purchase your replacement property anywhere in the nation. Section ten thirty one is part of our federal tax code.

Now in order to get the full benefit of the tax deferral, there are two main things that you wanna make sure are happening. One, you wanna purchase replacement property that’s equal or greater in value than what you’re selling based off of the contract sales price. And two, you want to reinvest all of the proceeds from the sale towards that purchase first. So if you’re selling for a hundred, you want to purchase replacement property for a hundred or more and use all of those proceeds from the sale towards the purchase first.

If you are in fact selling any investment real estate in the state of North Dakota or have any questions regarding what would qualify within the state of North Dakota, feel free to reach out to me. I’m more than happy to help. In fact, it’s my goal to be your 1031 resource. Thanks.

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