Section 1031 Tax Deferred Exchanges in NYC
The Section 1031 attorneys at SDK HEIBERGER LLP provide legal advice and representation for Section 1031 Tax Deferred Exchanges on real estate located in Manhattan, Bronx, Brooklyn, and Queens.
Our experienced attorneys provide a wide range of services for property investors who use Section 1031 Exchanges to sell property, to reinvest the proceeds in a new property, and to defer capital gain taxes.
NYC Section 1031 Exchanges
Our NY commercial real estate attorneys provide legal advice and representation to property investors for the following types of Section 1031 Tax Deferred Exchanges:
Delayed Exchange: the investor has up to 180 days to acquire a replacement property
Reverse Exchange: the investor may purchase a replacement property before selling the property currently owned
Construction / Improvement Exchange: the investor may construct a new property or rehabilitate an existing one using tax-deferred funds
"Like-Kind" Section 1031 Tax Deferred Exchanges may include properties such as:
Apartment Buildings
Office Buildings
Shopping Centers
Industrial Buildings
Resort or Vacation Rental Properties
Hotels
Unimproved Land
New York City Section 1031 Attorneys
SDK HEIBERGER LLP commercial real estate attorneys are experienced in providing legal services for NY Section 1031 Tax Deferred Exchanges.
Section 1031 of the Internal Revenue Code provides that no gain or loss shall be recognized on the exchange of property held for productive use in a trade or business, or for investment. A tax-deferred exchange is a method by which a property owner trades one or more relinquished properties for one or more replacement properties of "like-kind", while deferring the payment of federal income taxes and some state taxes on the transaction.
New York City Section 1031 Exchanges are subject to federal, NY State, and NYC tax laws. Our Section 1031 attorneys are experienced with navigating tax laws to successfully construct and complete Section 1031 Tax Deferred Exchanges in New York City.
Additional Legal Services: NYC Real Estate Transactions & Financing
In addition to legal advice and representation for NYC Section 1031 Tax Deferred Exchanges, our firm also provides legal assistance for NYC Real Estate Transactions, including:
In addition to legal advice and representation for NYC Section 1031 Tax Deferred Exchanges, our firm also provides legal assistance for NYC Real Estate Financing, including: