Learn about how the year-end 1031 exchange works and what restrictions apply to exchangers.Under IRC §1031 individuals and businesses may exchange qualifying property for like-kind replacement property.Only property held for investment or for productive use in a trade or business qualifies for a like-kind exchange.Taxpayers need to be aware of all timing restrictions under Section 1031 of the Internal Revenue Code (IRC §1031).
December 4, 2019— Six months ago, we noted tentative signs of improvement in the housing market. Since then, the recovery has become more sure-footed as the impact of lower interest rates, which peaked in late 2018, has begun to filter through to the housing market.
The facts show Delaware is a top jurisdiction for personal trusts with its flexible laws, a robust trust infrastructure, and a depth of talented professionals who serve this industry. While promoting their own trust services, other states at times present subjective information as fact, which can be misleading.Practitioners looking to find the right home for their clients’ personal trusts choose Delaware to take advantage of its favorable laws.