Calif. Firms Struggle To Find Exchange Properties Amid Boom
Law360, Los Angeles (August 10, 2016, 4:55 PM EDT) -- Investors have for some time used so-called 1031 like-kind exchanges to pass capital gains tax obligations to new properties, but given the real estate boom in California, real estate firms in the state are having trouble finding suitable replacement properties and are considering other structures, which come with their own sets of complications.
The surge in prices in major Golden State metro markets, coupled with limited availability of new properties, is complicating investors’ search for 1031 replacement properties, and investors are eyeing tenant-in-common and Delaware statutory trust structures as other ways to avoid paying taxes on gains.
“They’re having a hard...
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