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Swap Trap?
By Priya Jestin, Staff WriterAre you one of the many people who believe that you cannot complete a 1031 exchange unless you can find someone to ‘swap’ your property with? Wonder why despite the growing importance of 1031 transactions, people still don’t know much about this section of the IRC.
The swap game for instance was probably the way how exchanges were originally structured. But over time, as the game got more complicated, the rules changed. Today, you can sell your property to anyone you choose and buy from anyone else. In other words, most exchanges are structured just like any other typical sale and subsequent purchase.
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