In normal times, a 1031 tax deferred exchange must be concluded within 180 days — but these aren’t normal times. The IRS has just extended both the 45-day identification period and the 180-day exchange period from April 1, 2020, to July 15, 2020.
Russell Marsan, Senior Vice President of Investment Property Exchange Services, Inc., says the extension is in line with how the IRS has reacted during previous federally declared disasters. However, the extension is not retroactive — if your client triggered the exchange period before April 1, 2020, the April 15 deadline is still in effect.
Marsan and Fidelity National Title are teaming up to keep commercial players informed about 1031 exchanges, investor news, and how to stay on track in 2020. We’re offering two FREE options:
10-Minute 1031 Exchange and COVID-19 Update
Marsan will go over:
- The status of the 1031 extension
- How the extension will work
- What opportunities lie in wait for clients
- Why it’s probably a good time to sell now
- Why your client shouldn’t cancel an existing exchange yet
1-hour Update and Strategies for Marketing to Investors
Marsan will discuss strategies that can benefit investors and how to relay that information to them, including:
- 1031 coronavirus disaster relief extensions and potential opportunities
- 2020 tax update
- Basic rules of the 1031 exchange
- Strategies to motivate investors to list, sell, and exchange
- Unique replacement property solutions that don’t need to be seen in person and don’t require investors to formally qualify for a loan to replace debt
Marsan is available to call into an existing meeting or to host a meeting via Zoom. If you’re interested in scheduling one of these information sessions, please contact your FNT sales representative or contact Marketing Manager Amy Crookston.