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...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!