Structuring tax-deferred exchanges and keeping you on the strict IRS timeline.
A 1031 exchange can let real estate investors defer capital gains taxes by reinvesting the proceeds of a sale into a like-kind property. At Shim Law Group, P.C., we structure and coordinate these exchanges, keeping you on the strict IRS timeline so your exchange qualifies and your investment stays protected.
The rules are unforgiving. Miss a deadline or a technical requirement, and the tax deferral can be lost. We coordinate the legal side of the exchange alongside your qualified intermediary and tax advisor so every step is handled correctly and on time.
We handle the real estate documents and timeline so the legal side of your exchange is airtight. Because the tax rules are strict and fact-specific, we work alongside your accountant or tax advisor to keep everything on track.
Our real estate attorneys are ready to review your exchange and answer your questions. Contact us today at (718) 878-1177 or fill out our online form for free.
A 1031 exchange is a transaction that can allow an investor to defer capital gains taxes by reinvesting the proceeds from selling one investment property into a like-kind property, following specific IRS rules and deadlines.
1031 exchanges have strict timelines, including a period to identify the replacement property and a period to close on it. Missing a deadline can disqualify the exchange, which is why coordination and planning matter.
Yes. The tax treatment of a 1031 exchange is fact-specific, so we coordinate the legal side of the transaction while your tax advisor confirms the tax consequences for your situation.
A qualified intermediary is a third party that holds the sale proceeds during the exchange so you do not take receipt of the funds, which is generally required for the exchange to qualify. We coordinate with them.
We review contracts, clear title issues, and manage every detail so your residential or commercial closing happens on schedule and without surprises.
Learn MoreWe handle the purchase, sale, and financing of retail, office, and mixed-use properties, protecting your interests from due diligence through closing.
Learn MoreWe draft and review residential and commercial leases that spell out rent, use, and responsibilities clearly, so disputes do not arise later.
Learn MoreWe represent landlords and tenants in nonpayment, holdover, and habitability disputes, working toward resolution before matters escalate.
Learn MoreWhen a deal breaks down or a dispute cannot be resolved by agreement, we litigate contract, title, and boundary matters to protect your investment.
Learn MoreWe review contracts, clear title issues, and manage every detail so your residential or commercial closing happens on schedule and without surprises.
Learn moreWe handle the purchase, sale, and financing of retail, office, and mixed-use properties, protecting your interests from due diligence through closing.
Learn moreWe draft and review residential and commercial leases that spell out rent, use, and responsibilities clearly, so disputes do not arise later.
Learn moreWe represent landlords and tenants in nonpayment, holdover, and habitability disputes, working toward resolution before matters escalate.
Learn moreWhen a deal breaks down or a dispute cannot be resolved by agreement, we litigate contract, title, and boundary matters to protect your investment.
Learn moreShim Law Group is always looking to help those in need.
