1031 Exchanges in New York
1031 Exchange in NYC
Fabular, Li & Associates, P.C. has the best real estate lawyers in NYC to assist local and international real estate clients with structuring complex tax-deferred exchanges under IRC Code Section 1031 (“1031 Exchange”) for all types of investment real estate in NYC and nationwide, including condominium and cooperative units/apartments, mixed-use and office buildings, and industrial properties.
Taxpayers can defer the payment of the capital gain task after a sale if they invest the sales proceeds in the other “like-kind” property when there is an adequately structured 031-Exchange
Transactions involving tax-deferred exchanges are scrutinized by the IRS and involve complex Treasury Regulations, Revenue Rulings, and Internal Revenue Codes.
We draft and review 1031-Exchange agreements and ancillary documents to ensure that the transaction is appropriately structured, timely executed, and complies with all applicable tax rules.
To determine the most optimal structure for the client’s 1031-Exchange, we carefully analyze the property’s ownership structure, the client’s income tax bracket, the market value, and a cost basis of the client’s property, the value of property improvements, reported losses, carryovers, and deductions.
Common 1031-Exchange structures include:
- Simultaneous Exchange
- Delayed Exchange
- Reverse Exchange
- Construction / Improvement (Built-to-Suit) Exchange
- “Drop and Swap” and “Swap and Drop” Exchanges
- Use of Delaware Statutory Trusts for Replacement Property
- Dissolutions and Liquidations of Partnerships Followed by Exchange
What we do:
- We negotiate a contract of sale with the seller’s attorney and ensure that the seller agrees to cooperate with our client and the qualified intermediary to complete the underlying 1031-Exchange.
- We draft a contract of sale and negotiate it with the buyer’s attorney. We ensure that the buyer agrees to cooperate at no additional cost to the seller to complete the 1031-Exchange, including the assignment of the seller’s contractual rights and obligations to a qualified intermediary.
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Fabular, Li, &
Associates, P.C. at (212) 518-8380 or email us at info@fabularli.com.
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ABOUT US
SKILLED, EXPERIENCED, & DEDICATED
Fabular, Li & Associates, P.C. is a New York based boutique law firm practicing immigration law and transactional law. . Our attorneys practice real estate law in State of New York specializing in five boroughs of New York City (Manhattan, Queens, Brooklyn, Bronx and Staten Island), as well as Long Island. We represent clients in various real estate transactions.
