Recent Posts by Mary Kay Kennedy
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
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
Learn how to structure your deal to maximize your tax benefits and leverage a 1031 exchange to your advantage.
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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
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