The most common of 1031 Exchange’s is used for real estate investment or business property that is to be sold. Real Estate Exchange’s use like-kind real property which is any property not used as a principal residence or second home. Below are a few of examples of what would qualify as like-kind real property exchange:
Sell - Duplex
Sell - Rental House
Sell - Business Building
Buy - Shopping Center
Buy - Vacant Land with intention of developing
Buy - Farm Property used for income
These would all fall into the Real Estate Exchange category as they are all like-kind.
For inquiries please call Keith Chaffin or Mary Hogan at (417) 882-3000