1031 Destin Florida - Florida Real Estate Exchange

Florida Real Estate Exchanges offers a gem for a savvy investor: 1031 Destin, Florida Investment Properties

Located in the heart of the Florida Panhandle, Destin, Florida is a gem of Florida's emerald coast. This coastal city offers something for all types, especially the savvy investor. A popular tourist destination as well as an increasingly popular relocation destination for weather-weary East Coast residents, the city offers an array of possibilities for investors looking to capitalize on a Florida real estate exchange. By selecting a 1031 Destin Florida real estate investment property an investor can continue to maximize their real estate investment strategy while deferring payment of capital gains and depreciation recapture taxes. The transaction for reinvesting in a 1031 Destin, Florida exchange property is structured just like any other 1031 Exchange Property. The following are the basic requirements to participate in a 1031 Florida Real Estate Exchange in compliance with § 1031 of the Internal Revenue Code.

• Qualified Intermediary: An independent Qualified Intermediary must handle the paperwork and funds for the transaction. The Qualified Intermediary cannot be an attorney, broker or employee of the real estate investor.



• Time Requirements: The IRS mandates that the investor must identify three potential replacement properties within 45 days of close of the old investment property. The IRS allows 180 days from the day of close to complete the transaction for the new replacement property.



• Title Requirements: The investor must hold title in the identical form in both the old and replacement investment property.



• Real Property Requirements: The properties must conform to the IRS' requirements of investment or business use property and it must be real property in order to legally defer payment of capital gains taxes.



• 100% Reinvestment: All of the proceeds from the sale of the old investment property must be reinvested into the replacement property and be held in by a party other than the investor, usually the Qualified Intermediary until the funds are directly transferred to the closing agent for the replacement property.



• Like-Kind or Greater Value: The replacement property must be of like-kind or greater value in order to satisfy Section 1031 requirements. A Qualified Intermediary can work with you to properly identify what exactly is a like-kind property.

Why it's important to work with a trusted advisor when you select your 1031 Destin, Florida Real Estate Exchange Property

As you begin to enter into a Florida Real Estate Exchange you will want to work with a reliable and knowledgeable Qualified Intermediary. If you are interested in a 1031 Destin, Florida exchange property it requires someone who is familiar with the region and specific experience in 1031 exchanges of the caliber and nature that matches you're the needs of your real estate investment strategy.

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