1031 exchanges
Sell one rental, buy the next, and don't miss the clock
An exchange lets an owner defer tax by putting the proceeds of one investment property into another. It also has two deadlines that no one will extend.
Roscoe handles the legal side: the exchange agreement, the contracts on both properties and the calendar. Your tax adviser decides whether an exchange suits you.
Exchange agreement with your intermediary
Sale and purchase contracts, read together
Both deadlines on our calendar from day one
Quoted in writing
How an exchange runs
Our exchange work is quoted in writing once we see both properties. The intermediary's fee, title insurance, recording fees and lender charges are billed by others.
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Step 1: Before you list
We read your sale contract and set up the exchange agreement so the proceeds never touch your account.
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Step 2: Forty-five days
You name the properties you might buy. We make sure the notice is in writing and on time.
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Step 3: One hundred eighty days
You close on the new property. We read that contract against the exchange paperwork.
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Step 4: After closing
We send your tax adviser the closing documents and keep a copy for you.
What owners ask before they exchange
Does my property qualify?
The rules turn on how you've used it. A rental or business property usually can; a home you live in usually can't. Your tax adviser makes the call, and we do the paperwork.
Who holds the sale money?
A qualified intermediary, not you and not us. We choose one with you and read its agreement first.
What if I can't find a property in time?
The exchange fails and the sale is taxed as an ordinary sale. We'll tell you early if the calendar is getting tight.
Listing an investment property soon?
Call before you list. An exchange has to be set up before the sale closes.