1031 Exchange Expert: Qualified Intermediary, 1031 Exchanges, Accommodator, California and the U.S., etc., etc,

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Services for Real Estate Pros - The Law Offices of Elisabeth A. Lambert - 236274
RECENT BLOG POSTS
CONVERTING A RESIDENCE TO A RENTAL "REVENUE PROCEDURE 2005-14:APPLYING §1031 AND §121 TO A SALE"In the previous post we reviewed the requirements taxpayers must meet in order to qualify for their primary residence exclusion of either $250,000 or $500,000. In this post we examine the possibility o...
03/24/2008
PRIMARY RESIDENCE RULES - SECTION 121 "ANSWERS TO FREQUENTLY ASKED QUESTIONS ABOUT THE 1997 PRIMARY RESIDENCE TAX LAWS (IRC §1031)"This week we will discuss the primary residence rules and the various 1031 exchange rules related to property in which the taxpayer may have used it as a primary resi...
03/24/2008
What a great event that the Fresno County EDC, Phil Souza and Bobby Fena organized last night. There were over 700 attendee.The seven 7 panelists discussed the Fresno's various commercial markets (retail, industrial, office, agricultural and apartments) looking back at 2007 as well as looking for...
03/21/2008
EASEMENTS "CAN AN EASEMENT BE EXCHANGED FOR REAL PROPERTY?" IRC Section 1031 does not limit like-kind property to certain types of real estate. The types of real estate which can be exchanged are extremely broad. The term refers to the nature or character of the property, rather than its grade or...
03/21/2008
TIMESHARES AND REITS "DOES A TIMESHARE OR SHARE IN A REIT QUALIFY FOR TAX DEFERRAL?" A vast array of real property can be exchanged under Internal Revenue Code §1031 as qualifying like-kind property. Any real property held for productive use in a trade or business or for investment can be conside...
03/21/2008
LIKE-KIND PROPERTY - WHERE LOCATED "WHERE DOES PROPERTY HAVE TO BE LOCATED TO QUALIFY FOR DEFERRAL?" The term like-kind property isn't specifically defined in the tax code. Any real property held for productive use in a trade or business or for investment can be considered like-kind property. Pro...
03/21/2008
WATER RIGHTS (#39)"WATER RIGHTS QUALIFY FOR TAX DEFERRAL IN MANY STATES" The types of real property which can be exchanged under IRC Section 1031 as qualifying like-kind property are extremely broad. Any real property held for productive use in a trade or business or for investment - whether impr...
03/21/2008
OIL, GAS, AND MINERAL RIGHTS (#38)"CONSULTING WITH EXPERTS ISIMPORTANT IN THESE TRANSACTIONS" Investors who desire tax deferral on the sale or exchange of oil and gas interests may have the opportunity to reap the advantages of an exchange. As in any exchange, it is important to consult with tax ...
03/21/2008
LEASEHOLD INTERESTS "EXCELLENT §1031 REPLACEMENTPROPERTY OPPORTUNITIES"  A LEASEHOLD INTEREST CAN BE CONSIDERED LIKE-KIND PROPERTY Leasehold interests may be either relinquished property or replacement property in an exchange. [Reg. §1.1031 (a)-1 (c) (2)] A leasehold interest with a remaining ter...
03/21/2008
HOW LONG TO HOLD "HOW LONG MUST AN INVESTMENT PROPERTY BE HELD FOR THE IRS TO CONSIDER IT A LIKE-KIND PROPERTY?" The most common question I am asked in my seminars is "how long must the property be held to qualify as 'being held for investment' under section 1031?" This is the "qualified use" tes...
03/20/2008
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Lisa Lambert

Esq. 1031 Exchange Expert
smartphone(559) 433-5399
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Discussing 1031 Exchange Issues and Related Real Estate Issues in California. Specifically focusing on the Merced, Madera, Fresno, Selma, Reedley, Oakhurst,Visalia, Hanford, Porterville and Bakersfield areas.

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