Under Section 1031 of the United States Internal Revenue Code, a taxpayer may defer payment of capital gains and related federal income tax liability on the exchange of like-kind real property held for productive use in a trade or business or for investment. This process is called a 1031 exchange.
Frequently Asked Questions
How long is the information on my report good for?
Counties and municipalities will send information back with “date received”—this will be reflected on your report. Information from municipalities can change frequently, this is why many clients will order updates.