Northwest Exchange Facilitators
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Northwest Exchange Facilitators
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  • 1031 Basics
  • FAQ

1031 Exchange Basics

Why would you do a 1031 Exchange?

Simply to defer paying capital gains taxes on the sale of real estate. Estimate this tax

How much do I need to reinvest

  You need to reinvest the net sale price of your relinquished property. (more)

What properties qualify

For both the relinquished and replacement properties: (more details)

  • Any real estate that you or your family do not live for 2 years prior to the exchange and 2 years after the exchange. 
  • The type of Real Estate could be any including Commercial, Raw Land, Rental House, Apartments, Farmland, even water/mineral rights or easements.  You can exchange out of any of these and then into any of these (all are "like-kind").
  • Here are examples of properties that do not qualify – your home, property you bought with the intention of selling quickly (spec houses, building lots, flips, etc.), Equity/Stock (i.e. REITS or interest in LLC’s), notes and loans. 

Time limits

  • You have 45 days from the closing of the sale of your relinquished property to identify up to 3 properties that you ‘might’ buy
  • You have 180 days from the closing of the sale of your relinquished property to close on 1 or more of your identified properties.
  • (more details)

The title holder of the relinquished property must be the same as the new title holder of the replacement property. (more)

  

You MUST use a Qualified Intermediary (QI) to facilitate your exchange… 


AND - what do you know - we are a QI. We would LOVE to help you do your exchange.


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