1031 Exchange Services in Decatur, Springfield, Taylorville, Christian County, Montgomery County and Shelby County Illinois
1031 exchanges are transfers of “like kind” property named after their governing chapter in the Internal Revenue Code. There are numerous reasons why parties would prefer this transaction to a straightforward sale or purchase of real estate. Chief among these are the tax implications of a 1031 exchange. Any capital gains realized in the exchange can be deferred, so that party would not have to pay capital gains taxes in the exchange.
Spurling Title is experienced in handling 1031 exchanges, and would be able to answer all of your questions and facilitate your transaction.