Frequently, we are contacted by individuals who have heard about the tax advantages of a 1031 exchange, but are often mistaken or mislead about some of the basic mechanics. So, what exactly is a 1031 exchange? In basic terms, I.R.C. 1031 allows for the deferral of capital gains tax on the sale of property held.
A REALTOR’S GUIDE: THE NEW FAR/BAR CONTRACT AND SETTLEMENT STATEMENT CHANGES DUE TO THE NEW CFPB AND TRID REQUIREMENTS (WITH CLARIFICATIONS TO THE DODD-FRANK ACT) As you are well aware, the new Consumer Finance Protection Bureau (CFPB) has mandated a new closing disclosure called TRID (which stands for TILA RESPA Integrated Disclosure) which has caused.