Recent Posts by Mary Kay Kennedy
Mary Kay Kennedy is a Senior Vice President and National Operations Manager at First American Exchange Company, the 1031 exchange intermediary owned by First American Title. Mary Kay has been a real estate attorney for over 25 years, both in private practice and as in-house counsel. She is a member of ULI, CREW and NAIOP, and is a former Chair of the Real Property Law Section of the State Bar of California. Mary Kay received her J.D. from the University of California, Hastings College of the Law.
Attorneys as Closing Agents in a 1031 Exchange
By
Mary Kay Kennedy on August 2, 2017
In some regions of the country it is common for attorneys to act as closing agents in connection with the sale and purchase of real estate. When acting as a closing agent, the attorney receives the purchase price from the buyer and, once the closing ...
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Topics: 1031 Exchange
AVOIDING BOOT AT THE CLOSING OF A 1031 EXCHANGE
By
Mary Kay Kennedy on August 11, 2016
Exchange vs. Non-Exchange Expenses When closing a 1031 exchange transaction, it’s important to focus on which expenses are being paid with exchange funds. Some expenses that are expenses of owning property (such as property taxes and insurance) rather ...
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Topics: 1031 Exchange
NCS Lecture Series: Strategies for 1031 Success Webinar - Replay
By
Mary Kay Kennedy on February 24, 2016
Learn how to structure your deal to maximize your tax benefits and leverage a 1031 exchange to your advantage.
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Options for Partners in a 1031 Exchange
By
Mary Kay Kennedy on February 12, 2016
When a partnership owns real estate and plans to sell it, the individual partners often disagree about whether to set up an exchange or cash out, and whether they want to acquire something together or go their separate ways. If all of the partners want ...
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Topics: 1031 Exchange
5 Tips For A Smooth 1031 Exchange
By
Mary Kay Kennedy on August 12, 2015
Many real estate investors know that when they do an exchange, they can’t touch the money and they have to identify what they are going to buy within 45 days of the closing date of the property that is sold. While both of these facts are true, there are ...
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Topics: Commercial 1031