1031 exchanges provide real estate investors the opportunity to put more of their money into buying and fixing up a new investment property. The tax deferral program encourages more real estate transactions and creates a positive domino effect of economic growth for various industries including the title insurance industry. Despite the overall benefits, 1031 exchanges often come up on the political chopping block. Most recently, the Biden Administration has proposed eliminating the deferral on real estate profits of more than $500,000. In this episode, Amanda talks with Michelle Fitzpatrick who is the Vice President of Northern 1031 Exchange. She explains the basics of the 1031 exchange program, why it’s so important to real estate and title professionals, and what you can do to help save it.
