Peter and Linda owned a commercial building that they no longer wanted and learned that they could trade it in tax-deferred for an apartment complex using a 1031 like-kind exchange. As part of their asset protection strategy, they also wanted to place the new property into an LLC. In a 1031 exchange transaction, there are strict requirements and deadlines that need to be met in order to qualify for the tax-deferred benefits.
We ensured it all went smoothly. Furthermore, after acquiring the property, we assisting in the eviction and removal of unlawful and/or hostile tenants. With our legal assistance, Peter and Linda were able to focus on renovating the complex, finding the right tenants and adding value to the community.