D
Dick Adams
On a 1031 Exchange where a property is sold and the
proceeds are invested in another property, am I
correct that the acquired propery must be of equal
or greater value of the property sold?
Example:
Property A is sold for $X (net of selling costs)
and its mortgage of $Y was paid off. Therefore,
as long as Property B must cost $X or more for
the transaction to be completely tax exempt?
Dick
proceeds are invested in another property, am I
correct that the acquired propery must be of equal
or greater value of the property sold?
Example:
Property A is sold for $X (net of selling costs)
and its mortgage of $Y was paid off. Therefore,
as long as Property B must cost $X or more for
the transaction to be completely tax exempt?
Dick