In this interview Jesse Hamilton a Senior VP and General Counsel for Pioneer Title explains what a 1031 Exchange is along with its history.
Host Max Coursey and Hamilton discuss qualified intermediaries, rules, timelines, and Federal interpretations regarding the 1031 like kind exchange. They also touch on the benefits of converting real estate assets ie. A farmer converting farmland into apartment complexes, a warehouse, or some other real estate asset; while potentially deferring the gain and depreciation until the next sale.
The 1031 exchange can benefit individuals or entities who fully or largely depreciate their real estate holdings. Other investors may desire to shift their real estate portfolio from one class to another or they may seek opportunity elsewhere, including across state lines in the United States only. Towards the end, Coursey and Hamilton discuss judicial and non-judicial foreclosure, trustee sales, and rights of redemption as they vary from state to state.
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Richard is CEO of Rapid Celebrity, an Authority Media Marketing Agency. As a freelance journalist his work has been featured on Business Innovators Magazine, CBS, NBC, ABC, FOX, USA Today and hundreds of nationally-syndicated television, newspaper, and magazine outlets. Rick is a contributor to several online business publications.